Theo Walcott has undergone surgery on his dislocated shoulder.

Arsene Wenger, the Arsenal manager, confirmed that the forward came through the operation this morning, the second time he has had surgery on a shoulder in the past two years.

The injury, which could keep him out of action for at least three months, happened when Walcott collided with Scott Parker during training with the England squad in Berlin on Tuesday.

"I'm disappointed because he is an important part of the squad, but that could have happened in training here," Wenger said.

"It was an accident that could have happened anywhere. I do not blame the FA for that. It was accidental in training and I accept that.

"In a moment like that you do not think about compensation, you think about how you can replace the player."

Walcott underwent surgery after dislocating his left shoulder in March last year and did not return until the next season. His situation is complicated by a hereditary condition that has left him with weakened ligaments in both arms, raising question marks over the longevity of his career.

The England international has had four shoulder problems in the past two years, missing Arsenal's Champions League group match against Fenerbahçe this month after picking up a knock in a heavy challenge from Rory Delap in the defeat away to Stoke City.

The FA have today confirmed that Arsenal could be eligible for up to £1.5million in compensation for Walcott's injury. The governing body insure all players on international duty and up to £100,000 per week can be paid out to clubs by the organisation's insurers.

Under the FA's insurance deal, Arsenal could claim £50,000 for the first two weeks that Walcott is absent, and £100,000 per week thereafter up to a maximum period of almost two years. If he is out for the predicted 16 weeks, that could mean £1.5m in compensation.

"The FA is one of only a handful of national associations who voluntarily insure our players against injury while on international duty," a spokesman said. "Almost all foreign international players who play for English clubs will not have been insured in this way.

"The policy pays up to £50,000 per week for the first two weeks out of action through injury and up to a ceiling of £100,000 per week after that, to a maximum of 100 weeks. This compensation is paid by the FA's various insurers, not the FA itself.

"Our policy also provides up to £50,000 of medical expenses and provides compensation for permanent total disability in the case of career-ending injury incurred while with England."