This work presents the results of research carried out on synthesis of oligomeric esters of sebacic acid. The syntheses were conducted by the alcoholysis reaction of dimethyl sebacate with neopentyl glycol and 2-ethylhexanol. The catalyst used in the chemical synthesis was calcium methoxide. As a catalyst in the bioprocess, an immobilized lipase derived from Rhizomucor miehei strain (Lipozyme IM) was used. It was found that the reactions conducted in the presence of biocatalyst proceed with high yield, 95%, under mild conditions. On the other hand, chemical syntheses gave the same yield in a similar length of time but at much higher temperature. Some of the prepared esters were tested in terms of their suitability as additives to fully synthetic engine oils. The addition of these esters led to an improvement of the properties of the oils. The pour point was reduced by a few degrees in comparison with the tested base oil. The presence of esters significantly improved the viscosity index. A positive influence of esters on the lubricating properties of the formulated oil was also observed.