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Spudded three weeks ago, the rig had yesterday finished drilling the 17.5-inch hole to a target section depth of 1265 metres.
After the casing string is cemented, MEO will pressure test the blow-out preventer stack.
Drilling will then restart in a 12-¼ inch hole towards a total depth of 3454 metres.
Blackwood-1 is expected to reach its primary reservoir objective, the Top Plover Formation, at a depth of 3351m.
MEO, which is drilling Blackwood-1 on a sole-risk basis, said the well aimed to determine whether the Plover Formation contains commercial gas-condensate at this location. Recoverable resources are estimated to be between 1-1.8 trillion cubic feet.
