Carbon dioxide ($CO_2$, R-744) has become a very popular issue in application to refrigeration and air conditioning systems as a natural refrigerant. An experimental study has been carried out to investigate miscibility and the vapor pressure of refrigerant R-744 in the presence of lubricant oil. This is of particular interest in the selection of the lubricant oil for the compressor of a refrigeration system or an air conditioning system using the refrigerant R-744. The experimental set-up consists of the equilibrium cell, measuring devices, the vacuum pump, the constant temperature bath and relevant connecting pipes made of stainless steel. Five lubricant oils, such as mineral oil (Naphthenic), AB (Alkyl Benzene) oil, PAO (Poly Alpha Olefin) oil, PAG (Poly Alkylene Glycol) oil and POE (Polyol Ester) oil are considered in the present study. Test runs were conducted with the oil concentration range from 5 to 50 wt％, and the temperature range from -10 to 1$0^{circ}C$ with 2$^{circ}C$ intervals. The miscibility results are visualized and correlated with the vapor pressure for the individual test components.