The field has been developed by Azerbaijan's state energy firm SOCAR and France's TotalEnergies (formerly known as TOTAL) since 2016.

The country's partners have already pledged over $5 billion in financial aid in a move to support Ukraine's economy and reform agenda.

The loan has been provided at a very low-interest rate and with a repayment period of 30 years, including a five-year grace period.

Some Western leaders have in the past week warned of an imminent Russian invasion, with U.S. President Joe Biden saying he was “convinced” this would occur within days and Secretary of State Antony Blinken predicting a quick advance aimed at capturing the Ukrainian capital, Kyiv.