Oil pressure issues?

Oil pressure issue?
I have a B18C turbo and today noticed that my oil pressure gauge was reading very low. Car seems to be ok, running smoothly etc so I am wondering if it might be just the sending unit that is failing?

Was reading 25-35PSI (!) from about 3k rpm and at idle dropped to zero, I also noticed a couple of flickers where the needle quickly went up to 50-75 psi when under a bit of load. My stock oil light never came on (at what pressure does this come on?)

Sender is attached to an oil cooler sandwich plate and on the return side to the engine from the cooler. oil was about 2/3rd on the dipstick when I started the drive, I put about 700ml of oil in when I first noticed the low pressure

Is it possible for the oil pump to fail in this manner? I thought when they went it was more of a catastrophic thing and you lose all pressure. Anything else that could be causing these symptoms?