The Taoiseach will tell the EU Commission President within a week who he wants to nominate to replace Mr Padraig Flynn as Ireland's Commissioner.
The Minister for Health, Mr Cowen, and former minister Mrs Maire Geoghegan-Quinn are seen as the front-runners. However, the Minister for Finance, Mr McCreevy, and the Minister for the Marine, Dr Woods, are also being mentioned as possible nominees.
There is speculation that, should the agriculture portfolio become available, the Minister for Agriculture, Mr Walsh, might be considered.
Mr Ahern discussed the matter with the Tanaiste, Ms Harney, before yesterday's Cabinet meeting. No name has been agreed, according to Government sources, and Mr Ahern is likely to have further discussions with close colleagues in the next few days before making a decision.
Mr Ahern is expected to telephone the Commission President, Mr Prodi, in the next fortnight to discuss what portfolios might be available to an Irish commissioner. His final decision on who to nominate may depend on the available portfolio.
Mr Prodi has told EU member-states that he would like all nominations to be made by July 8th or 9th, and that he intends to have all portfolios allocated by July 16th. He said he would like member-states to nominate a senior serving politician, and he is also keen to have a significant number of women in the new commission.
Mr Prodi intends that the new Commission will have its first meeting on July 16th, by which time he will have matched all nominees with portfolios.
A Commission official quoted by AFP yesterday said there would not be "a night of the long knives" at which Commission portfolios would be allocated.
This was a reference to a meeting at a secluded chateau in Luxembourg in October 1994, when the current Commissioners learned of their jobs for the first time.
Sir Leon Brittan left that meeting furious after failing to win responsibility for relations with eastern Europe. Mr Prodi intends to allocate responsibilities in a more planned way.
He is due to present his team of commissioners to the newly-elected European Parliament on July 21st, paving the way for the assembly to arrange investiture hearings with them.
The parliament will then vote on whether to approve the new Commission in September.