The lipase test is a blood test performed to determine the serum level of a specific protein (enzyme) involved in digestion. Lipase is an enzyme produced by the pancreas, which is a large gland situated near the stomach.Lipase works to break down a certain type of blood lipid (triglycerides) into fatty acids.he lipase test is a blood test performed to determine the serum level of a specific protein (enzyme) involved in digestion. Lipase is an enzyme produced by the pancreas, which is a large gland situated near the stomach.