95blkmax Thanks alot for your reply, I have been waiting for any input from the forum to help out with the diagnosis.
The BM700 can read live data and that was my plan for tomorow to test (I am away from the car and I am giving my brother instructions to diagnose the car). From what I have found the oil pressure should be 15psi is at idle and no load and 60psi is at max rpm and full load.
I replaced the belt not long ago but there was no signs of the front crankshaft seal failure or leakage at all. The belt was only degraded a little with very small cracks from the inside rubber due to heat and wanted the safe of mind.
There is only one small leak in the rear main seal and its dripping slowly between the engine and converter but it is quite minor and to me currently it is not worthy of the expense and the labor to fix it (I already spent too much more that what I planned to get this car up to spec). Plus I have placed 2000km on the car since last oil change and it is still at max.
With regard to the sensor error, from what I read online, this is the way on how the sensor operates. It doesnt have 2 wires, only power and the ground is built on the body of the sensor. It is designed in a way that whenever it reads low oil pressure, the ground "shorts out" and gives the car the low oil pressure reading. Please correct me if I am wrong (and I really wish that I am wrong lol) because I really want it to be the sensor failing, not the pump.
I have a video of the engine internals running after the codes showed up and to me the oil pump seems working fine:
https://www.reddit.com/r/BMW/comment...m_source=share
In all cases I will check the plug of the sensor and verify if there is an issue with it and probably replace it just to rule it out as you said.
Thanks again for your reply.