The company said the vessel finished acquiring about 348 square kilometres of new 3D seismic data at midday today, local time.

"The acoustic array and streamers are currently being recovered and the 3D seismic data will then be transferred to the PGS processing facilities in Perth," the company said.

According to MEO, the processing is designed to correct for the near-surface reefs and channels with a full processing sequence to pre-stack depth migration to improve depth conversion, mapping and potential resource estimation of the Greater Blackwood feature which was recently intersected by the Blackwood-1 discovery well.

Blackwood-1 was completed in March this year after it was found to contain 2.5 trillion cubic feet of carbon dioxide-rich gas.

Earlier this month, MEO said it was aiming to farm-out a stake in the permit to help fund further appraisal drilling, leading to the eventual development of a methanol project and possibly a liquefied natural gas scheme.