JERUSALEM, March 19 (Reuters) - Natural gas exports from

Israel's offshore Leviathan field to Egypt jumped by 28% in

2023, and production at the site is due increase in late 2025,

NewMed Energy said on Tuesday.

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 ( CVX ) 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.