Case Study: a multinational corporation reduces methane leak penalties and repairs faster with Wood's Iris Edge

The latest in methane mapping technology Saving millions in estimated IRA penalties

The multinational corporation, an operator of oil and gas assets, faced significant financial risk from potential multi-million dollar tax penalties under the Inflation Reduction Act due to methane leaks at its facility in Newfoundland, Canada. To address this challenge, they partnered with Wood to conduct a pilot study using its Iris Edge robotic technology for advanced methane mapping and detection.

Wood deployed its autonomous Iris Edge robots equipped with specialized sensors to create a detailed 3D digital twin of the facility, enabling the remote identification and quantification of methane leaks with flange-level accuracy. The solution identified 25% more leaks than previous methods, allowing for a critical repair to be initiated within 24 hours. For the customer, Wood's technology provided auditable data to reduce tax implications, projected savings of up to 80% in labor costs, and the potential to eliminate millions in IRA penalties.