Motivated by the recent experimental observation of a Mott insulating state for the layered Iridate Na2IrO3, we discuss possible ordering states of the effective Iridium moments in the presence of strong spin-orbit coupling and a magnetic field. For a field pointing in the [111] direction - perpendicular to the hexagonal lattice formed by the Iridium moments - we find that a combination of Heisenberg and Kitaev exchange interactions gives rise to a rich phase diagram with both symmetry breaking magnetically ordered phases as well as a topologically ordered phase that is stable over a small range of coupling parameters. Our numerical simulations further indicate two exotic multicritical points at the boundaries between these ordered phases.