Enterprise Oil - which is about to spend £500m on bringing Corrib gas ashore - would still have significant spare change if it funded the entire programme out of last year's profits.
The company revealed today that it cleared £635m before exceptional items. High prices in the past year boosted profits across the oil industry.
The Corrib project was sanctioned by co-venturers - Statoil Exploration Ireland and Marathon Petroleum Hibernian - last month, subject to regulatory and planning approval. The first production of gas there is expected by the second half of 2003.
Enterprise is just beginning its £20m campaign to find oil in 5,000 feet of water midway between Donegal and Rockall island.
