Assuming the oil has been properly maintained and the engine is in good
mechanical condition have the oil pressure sending unit replaced. they may
also do an oil pressure test at the same time. If the connector is
saturated with oil make sure to take the connector apart and clean it out
Sending unit would be the first thing to check.
If available you might check with a mechanical pressure gauge. Couldn't
find the post SOmeone mentioned fixing the flickering oil light problem
by replacing a bad gasket on the oil pump
Check the easy things first
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