Experimental and theoretical research directed toward synthesis of triglycerides by lipase catalyzed interesterification and esterification are presented In the experimental portion of the work, considerations of enzyme stereospecificity and of the conditions in the microaqueous phase surrounding the enzyme are utilized in order to synthesize interesterification products in the systems triacetin-tributyrin; tripalmitin-tristearin; and olive oil-hydrogenated cottonseed oil. Minimal water and reversed micelle configurations are compared in the triacetin-tributyrin system and in a model esterification reaction between 1-butanol and palmitic acid. In the experiments with C50, C52, and C54 triglycerides, high temperature gas chromatography (HTGC) is employed to follow the course of the reaction In the theoretical portion of the work, a completely general expression is derived for the optimal flow rate path in a CSTR with deactivating, immobilized enzyme catalyst Potential applications and areas for further research are noted