Annular two-phase flow is characterized by the formation of a liquid layer spread around the pipe circumference with gas flowing in the core area of the pipe. The present work consists in the numerical simulation of an annular flow in horizontal pipe, with and without heat transfer through a one-dimensional code based on the Two Fluid Model. Two pairs of fluids are considered, being the first air-water, which is widely studied in the literature and a typical natural gas and oil fluid from production oil fields. Characteristics parameters of annular flow such as pressure drop, interface friction factor e liquid film height are obtained and compared with experimental and numerical data, showing in both cases good agreement. The natural gas is modeled as real gas, using the Peng-Robinson Equation of State, and compared with the ideal gas modeling. For the typical fluid selected, this effect is quite small on the hydrodynamics parameters such as phases velocities and pressure drop and on the thermal parameters such as temperature, heat loss for the environment and heat exchange coefficient.