"One of five wells previously drilled and waiting for installation of production equipment has been made ready to flow, " said a company spokeswoman.

"Operations during the past month or so from the Sedco 711, semi-submersible drilling rig, have just been successfully completed."

The valve assembly, (known as a Christmas Tree), was placed on the seabed, temporary plugs removed from the well, and permanent safety, monitoring and production equipment installed in the well.

"The well was briefly flowed to prove the delivery capacity of the well and ensure that the well was clean and free of any trace solids ready for connection to the production system.

The well, along with the remainder of the production wells when ready, will later be connected to the Corrib production system."

Shell has in recent months said it would consider alternative routes for the pipeline, despite the fact that this could result in delays. While the field is substantial in Irish terms, containing an estimated one trillion cubic feet of gas, it is small compared to some other projects Shell is involved in.

The company is touted as a bidder for a stake in a massive 20 trillion cubic-foot field in India, and is also involved in major projects in Saudi Arabia.

Cassells' report includes recommendations, such as an investment fund for the local community, that are likely to add extra costs to the project.

A contribution of 450,000 is being paid to people affected by peat movement.

While Shell has always said it is committed to developing the Corrib field, its mandarins must surely be privately wondering if it is worth all the fuss.

With gas prices now so high, it probably is. Were they to fall in significantly, Corrib could find itself on the back burner.

Shell, Europe's secondbiggest oil company, last week reported that its latest quarterly profit soared 40% as record oil and gas prices boosted its bottom line. Net income for the second quarter rose to $7.32bn, or $1.13 a share, from $5.24 billion, or 78 cents, a year earlier. That was despite serious disruption to the company's production in Nigeria.

Chief executive Jeroen van der Veer has approved the construction of a fuel plant in Qatar that may cost $18bn ( 14bn) as he embarks on projects to make up for the lost production in Nigeria, where attacks on pipelines helped drive oil to $75.35 a barrel.