Swift’s Offshore Contract with Shell Highlights Growing Reliance on Remote Tech Solutions

• Three-year contract signed with Shell for Prelude FLNG services
• Total contract value of $804,191 including CAPEX and OPEX
• Subscription revenue to commence from March 1, 2025
• Provision of Swift Access platform and 24/7 technical support
• Strengthens Swift’s position in offshore oil and gas technology solutions

Swift Networks Expands Offshore Oil and Gas Presence

Swift Networks Group Ltd (ASX: SW1) has announced a new three-year contract with Shell to deliver its proprietary Swift Access platform and ongoing support services to the Prelude floating liquefied natural gas (FLNG) facility. Valued at $804,191, the agreement includes both capital expenditure (CAPEX) and operational expenditure (OPEX) components, with subscription revenue set to begin on March 1, 2025.

The Prelude FLNG, located offshore north-northeast of Broome, Western Australia, is the largest vessel in the world at 488 meters long and 74 meters wide. Designed to remain moored for at least 25 years, the facility represents a critical asset in Shell’s LNG production portfolio. Swift’s engagement with such a high-profile offshore project underscores the company’s growing expertise and reputation in delivering tailored technology solutions to complex, remote environments.

Tailored Solutions for Challenging Environments

Swift Networks specializes in providing premium entertainment and engagement platforms powered by proprietary technology and network infrastructure. Their solutions are specifically designed for communities and industries where connectivity and tailored services are paramount, including mining, resources, aged care, and government sectors. The Prelude contract will see Swift install its Swift Access platform, which includes Secure Casting technology, alongside a 24/7 technical helpdesk to ensure continuous support.

CEO Brian Mangano highlighted the significance of the deal, stating, "We are pleased to announce this new agreement with Shell for their impressive Prelude facility, the largest vessel in the world! Swift's extensive experience within this sector has led to the development of product features and solutions to overcome challenges unique to the Oil and Gas sector, particularly for offshore locations." This contract not only reinforces Swift’s position as a trusted supplier in the oil and gas sector but also showcases its ability to meet the demanding operational requirements of offshore installations.

Strategic Importance and Future Outlook

Shell joins a roster of premium oil and gas clients for Swift, including INPEX, Roy Hill, BHP, and MinRes. The Prelude contract adds to Swift’s growing portfolio of long-term agreements with major resource companies, reflecting strong market demand for its specialized technology and support services. The combination of CAPEX and OPEX components in the contract provides Swift with a balanced revenue stream, enhancing financial stability and predictability.

Looking ahead, the successful execution of this contract could pave the way for further opportunities within Shell’s global operations and other offshore projects. Swift’s ability to deliver reliable, tailored solutions in challenging environments remains a key competitive advantage as the oil and gas sector increasingly seeks innovative technology partners to optimize remote operations.

Bottom Line?

Swift’s Prelude contract cements its offshore credentials, setting the stage for deeper oil and gas sector integration.

Questions in the middle?

• How will Swift Networks scale its support infrastructure to meet the demands of the Prelude FLNG over three years?
• Could this contract lead to expanded services or additional agreements with Shell or other FLNG operators?
• What technological innovations might Swift introduce to further tailor its platform for offshore oil and gas environments?