Need Help W/ Oil Leak

[Spritboi]

It's my first post on here so bear with me, I'll try to make things simple. I have an '89 325i (M20) with a constant oil leak coming from some type of sensor on the passenger side right under the oil filter next to the oil pan. I just don't know what this part is called so I can replace it. I read here (Step 4. http://e30.bmwdiy.info/oil-leak/) that it's the "oil pan sensor" but I thought the oil pan/level sensor was this thing (http://thumbs4.ebaystatic.com/d/l225...NOjqJCMnIw.jpg).
I took pictures myself of where it's leaking from.
How would I stop this from leaking?

[efficient]

That's the oil pressure sensor.
If I remember correctly it has a o ring but I'm not sure. Maybe buy a new one and put teflon tape on it or put some rtv on the threads of the sensor and put it on snug

[z122643]

Oil pressure sensor. There is a copper crush ring (just like the oil pan drain plug). Next time you do your oil change, take out the sensor and replace the crush ring. Torque should be 25NM

Check your sensor though. Is it leaking around base of the sensor, or does it seem to be coming through the sensor center.

My advise is to replace the sensor with a new crush ring. cheap, and you'll sleep at night.

[Spritboi]

Thanks, I fixed it.
Oil pressure switch was the name of the part.
Thanks!!!