International energy giant Chevron Corp., perhaps San Ramon's most well-known corporate resident, plans to sell its headquarters plaza off Bollinger Canyon Road and move to a yet-undisclosed new leased space in the city while allowing some locally based employees to voluntarily relocate to Houston, the company announced in recent days.

The move is expected to take place during the third quarter during 2023, according to Chevron.

"The current real estate market provides the opportunity to right-size our office space to meet the requirements of our headquarters-based employee population," Chevron said in a statement. "An option for San Ramon-based employees to voluntarily relocate to Houston will be offered as part of this move."

The company did not elaborate on the number of employees impacted nor what the "right-sizing" would look like in the end.

Chevron did say its plan would be to "remain headquartered in California, where the company has a 140-year history and operations and partnerships throughout the state."

A Fortune 500 company, ranked 16th on the magazine's list for 2022, Chevron is a multinational energy corporation best known for its work in the oil, gasoline and natural gas industries.

The company's 92-acre headquarters, Chevron Park, is located on Chevron Drive just off Bollinger Canyon Road -- blocks from Interstate 680 and across the street from the heart of Bishop Ranch Business Park.