The company also reported a drop in fourth quarter profit.
NewMed, the largest stakeholder in the huge Leviathan field, said overall sales from the field for the year fell to 11 billion cubic meters (bcm) from 11.4 bcm in 2022, adding the drop was due to new competition in the sector.
Exports to Egypt jumped to 6.3 bcm from 4.9 bcm a year earlier, and sales to Jordan were steady at 2.7 bcm, the company said.
NewMed said that the Leviathan partners, which also include Chevron and Ratio Energies, will invest $568 million to upgrade the field, raising production capacity from 12 bcm annually to 14 bcm starting in the second half of 2025.
NewMed said it made a fourth quarter profit of $102 million, down from $141 million a year earlier.
(Reporting by Ari Rabinovitch; Editing by Steven Scheer)
