May
8
2008

ICF International Selected to Study Environmental Feasibility for Development of Offshore Oil and Gas Field Deposits in Brazil

Company to Conduct EIA and Other Studies of Newly Discovered Gas Reservoir

 

 

Fairfax, Virginia, May 8, 2008 -

ICF International (NASDAQ: ICFI) has been selected by the Brazilian energy company Petrobras to conduct environmental studies to support the licensing of oil and gas exploration and production off the coast of São Paulo, where giant reservoirs were discovered earlier this year. The discovery of these fields in the Santos Basin is expected to help Brazil achieve self-sufficiency in natural gas within a few years and to contribute to the expansion of Brazilian oil production.

ICF has also been awarded a second contract to conduct similar studies in the Foz do Amazonas and Pará-Maranhão basins, located offshore near the mouth of the Amazon River in the north of Brazil. Little is known about the basins, and the studies will support Petrobras’ efforts to find and develop additional petroleum resources.

The total value of the two projects is approximately $1.5 million. The work will extend over three years.

“ICF is pleased to work with Petrobras to help the Brazilian government’s efforts to become less dependent on oil and gas imports,” said Lucia Silva, principal-in-charge of ICF’s environmental services in Brazil. “With the recent discoveries of gas deposits off Brazil’s south-central coast, the time is ripe for environmentally sound exploration. Building upon our previous experience in this region, the new award demonstrates recognition of ICF’s excellent qualifications in the Santos Basin.”

ICF engineers and scientists will conduct Environmental Impact Assessment and Environmental Viability studies to assess potential impacts to the marine environment as well as the coast and coastal communities that may be affected by the exploration and production activities.

 

 

About ICF International

ICF International (NASDAQ: ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, climate change, environment, transportation, social programs, health, defense, and emergency management markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 3,000 employees serve these clients worldwide. ICF’s Web site is www.icfi.com.

Caution Concerning Forward-looking Statements

This document may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995—that is, statements related to future—not past—events, plans, and prospects. These statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “guidance,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “seek,” “should,” “will,” “would,” or similar words. You should read statements that contain these words carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position, or state other forward-looking information, and are subject to factors that could cause actual results to differ materially from those anticipated. For ICF, particular uncertainties that could adversely or positively affect the Company’s future results include but are not limited to: risks related to the government contracting industry, including the timely approval of government budgets, changes in client spending priorities, and the results of government audits and investigations; risks related to our business, including our dependence on contracts with U.S. Federal Government agencies and departments and the State of Louisiana; continued good relations with these and other customers; success in competitive bidding on recompete and new contracts; performance by ICF and its subcontractors under our contract with the State of Louisiana, Office of Community Development, including but not limited to the risks of failure to achieve certain levels of program activities, termination, or material modification of the contract, and political uncertainties relating to The Road Home program; uncertainties as to whether revenues corresponding to the Company’s contract backlog will actually be received; the future of the energy sector of the global economy; our ability to attract and retain management and staff; strategic actions, including attempts to expand our service offerings and client base, the ability to make acquisitions, and the performance and future integration of acquired businesses; risks associated with operations outside the United States, including but not limited to international, regional, and national economic conditions, including the effects of terrorist activities, war, and currency fluctuations; and other risks and uncertainties disclosed in the Company’s filings with the Securities and Exchange Commission. These uncertainties may cause ICF’s actual future results to be materially different than those expressed in the Company’s forward-looking statements. ICF does not undertake to update its forward-looking statements.

For Immediate Release
Brazil Contact:
Luis Anisio
55.21.2117.2550

U.S. Contact:
Polly Shannon
1.703.934.3144

 
 
 

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