A new subsurface process model was developed using the ASPEN HYSYS simulation environment to analyse the process energy and gasification efficiency at steady-state equilibrium conditions. Injection and production wells were simulated using the HYSYS pipe flow utilities which makes use of the Beggs and Brill flow correlation applicable for vertical pipes. The downhole reservoir hydrothermal reactions were assumed to be in equilibrium, and hence, the Gibbs reactor was used. It was found that high W/C ratios and low O/C ratios are required to maximise gasification efficiency at a constant hydrocarbon feed flowrate, while the opposite is true for the energy efficiency. This occurs due to the dependence of process energy efficiency on the gas pressure and temperature at surface, while the gasification efficiency depends on the gas composition which is determined by the reservoir reaction conditions which affects production distribution. Another effect of paramount importance is the increase in reservoir production rate which was found to directly enhance both energy and gasification efficiency showing conditions where the both efficiencies are theoretically maximised. Results open new routes for techno-economic assessment of commercial implementation of underground gasification of hydrocarbons. © 2014, Hydrogen Energy Publications, LLC. Published by Elsevier Ltd. All rights reserved.