A turbine flowmeter is employed in this study in connection with offshore oil field development, in order to measure simultaneously both the volumetric flow rates of air-water two-phase mixture. Though a conventional turbine flowmeter is generally used to measure the single-phase volumetric flow rare by obtaining the rotational rotor speed, the method proposed additionally reads the pressure drop across the meter After the pressure drop and rotor speed measured are correlated as functions of the volumetric flow ratio of the air to the whole fluid and the total volumetric flow rate, both the flow rates are iteratively evaluated with the functions on the premise that the liquid density is known. The evaluated flow rates are confirmed to have adequate accuracy, and thus the applicability of the method to oil fields.