You're probably on the right track with the sender, as they are a common failure whatever they're fitted to. procedure for replacing it:
spray a couple of gallons of brake cleaner around the sender, sump to block joint and everything else nearby* that's caked in twenty years worth of oil leaks and road grime.
disconnect the wiring and start the car.
if the sender is really bad it will spurt enough oil to preserve a nice amount of the radiator core.
fit the new sender, and check it doesn't leak from the joint or, a it's probably an Intermotor** part, through the unit like the old one did.
spray some more cleaner into the wiring connector, and inspect how far up the wire the oil got. Fix that to your preferred level of
good enough. The Omega ECU is a lot further away from the sender than a Corsa one. Corsa owners will tell you that lubricating the ECU isn't a good thing
You will
have now discovered just how badly your front crank oil seal is leaking. This costs about the same as the sender, but is slightly more work to fix. Ignore it until you feel like doing a more involved timing belt replacement.Connect your repaired wiring, and admire the oil pressure light that only illuminates when the engine isn't running.* stop before you get to the roof, unless you bought a lot of cleaner
** Intermotor parts are utter shit. Never, ever, ever fit them inside a distributor.