Chevron will proceed with its $53 billion acquisition of Hess, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.

Chevron closed its $55 billion acquisition of Hess on Friday after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.

Chevron completed its $53 billion purchase of Hess after winning an arbitration case brought by rival Exxon Mobil and the China National Offshore Oil Corporation.