Aims. HD166734 is an eccentric eclipsing binary system composed of two
supergiant O-type stars, orbiting with a 34.5-day period. In this rare
configuration for such stars, the two objects mainly evolve independently,
following single-star evolution so far. This system provides a chance to study
the individual parameters of two supergiant massive stars and to derive their
real masses. Methods. An intensive monitoring was dedicated to HD166734.We
analyzed mid- and high-resolution optical spectra to constrain the orbital
parameters of this system. We also studied its light curve for the first time,
obtained in the VRI filters. Finally, we disentangled the spectra of the two
stars and modeled them with the CMFGEN atmosphere code in order to determine
the individual physical parameters. Results. HD166734 is a O7.5If+O9I(f)
binary. We confirm its orbital period but we revise the other orbital
parameters. In comparison to what we found in the literature, the system is
more eccentric and, now, the hottest and the most luminous component is also
the most massive one. The light curve exhibits only one eclipse and its
analysis indicates an inclination of 63.0{\deg} ± 2.7{\deg}. The
photometric analysis provides us with a good estimation of the luminosities of
the stars, and therefore their exact positions in the Hertzsprung-Russell
diagram. The evolutionary and the spectroscopic masses show good agreement with
the dynamical masses of 39.5 Msun for the primary and 33.5 Msun for the
secondary, within the uncertainties. The two components are both enriched in
helium and in nitrogen and depleted in carbon. In addition, the primary also
shows a depletion in oxygen. Their surface abundances are however not different
from those derived from single supergiant stars, yielding, for both components,
an evolution similar to that of single stars.Comment: 13 pages, 13 figures, A&A accepte