Chevron says it's buying 25 acres of land from S.B.C. Corporation in southwest Midland.
The company hopes to build an office complex on the site.
The complex would have office space and amenities for Chevron's local workforce of 450 people. It would also have room for expansion if Chevron decides to have an even larger presence in West Texas in coming years.
Chevron says the sale should be finalized in Fall 2012.