Systems and methods include a method for locating a leak in a pipeline. Pressure and flowrate measurements are received corresponding to fluid flowing through a pipeline for which a leak is to be located in a pipeline segment. A calculated leak size is determined based pressure and flowrate measurements for upstream and downstream locations. A first assumed leak location is identified. A first assumed leak size is determined. A simulation is executed based on the first assumed leak size, first assumed leak location, and pressure and flowrate measurements, producing a virtually measured leak size. If a difference between the virtually measured and calculated leak size is not within acceptance criteria, a second assumed leak size is iteratively determined, the simulation is re-executed, and the difference is re-determined. A second assumed leak location is iteratively identified, and the simulation is re-executed to determine an estimated leak location of the leak.