A competition freediver is an athlete with highly tuned technique and absolutely no unnecessary oxygen consumption.Well freedivers dive 100m with 1 breath (that is 200m and have to fight against buoyancy as well in the first half), so it is clear who is more efficient based on your criterion .
Efficiency is world class then, but there are some hard limits, too. Distance is limited to 100m or 200m.
(OK! Herbert Nitsch went to 253m and came back alive, but it really wasn't a success, was it?)
Give such a freediver a small neutrally buoyant air cylinder, and you'll witness perfection in S.C.U.B.A!