Ireland centre Brian O'Driscoll was due to undergo surgery on Wednesday on the ankle ligament trouble that has sidelined him for his country's autumn Tests.
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Number eight Jamie Heaslip could emerge as the captaincy favourite if O'Connell is sidelined.
New Zealand-born prop Michael Bent, meanwhile, has been drafted straight into Ireland's squad ahead of the autumn series.
Bent, who qualifies for Ireland through his maternal grandmother, could play for Leinster against the Ospreys next Sunday and then be under consideration to face the Springboks six days later.
"He will work with Leinster on Wednesday, come back to Carton House (Ireland's training base) Thursday and Friday, and then a decision will be taken on whether he will have an involvement in Leinster's game on Sunday," Ireland team manager Michael Kearney said.
"For us, he could play in one or two or all three games in November. It depends on what happens in the next week or two. Declan (Fitzpatrick) has just returned from injury, and we are keeping our options open."
Bent, 26, has arrived in Ireland after playing for Taranaki in New Zealand's ITM Cup. He also made five Super 15 appearances for the Hurricanes earlier this year.
Kidney added: "It's our job to assemble the best Irish-qualified group together. In fairness to Leinster, they did a lot of groundwork in finding him.
"With the game-time the rest of the tighthead props have around the place, he's probably one of the most qualified in terms of being match-fit."