An NIR analyzer with the optical probes across a pipe, or in a bypass configuration, after a stabilizer in an oil or condensate production plant. Prior to use, liquid samples from the plant are analyzed in a chemical lab to obtain reference vapor pressure or compositional values. A chemometric model using known techniques is then built with the captured absorption spectra and the reference lab results. Preprocessing methodologies can be used to help mitigate interferences of the fluid, instrument drift, and contaminate build up on the lenses in contact with the fluid. The chemometric model is implemented through the NIR analyzer as the calibration curve to predict the vapor pressure or other values of the flowing fluid in real time.