FYI that is the cam adjuster magnet for the inlet cam.
VW have released an updated part, and it is now made of black plastic - i updated the one on my car about 6 months ago. ECS Tuning sell the part and new electrical plug to suit.
If yours is leaking oil then its likely that one of the 2x rubber o rings/seals have perished and is allowing oil to seep through.
My original metal one was also allowing oil vapour to leak out, but the new updated unit has fixed that.
Link to part on ECS Website
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