Oil pressure sender unscrews from block. It's only function is to send pressure reading to oil pressure gauge. It will not affect how car runs.
Since you have a 93 and it's running bad, I suggest you see if you have any codes. 3 of the major make the car run bad codes, don't turn on the check engine light. On your 93, the old paper clip across the dlc pins will get the codes to flash on the check engine light.
I suggest checking out the opti wiring harness, which runs from opti to passenger side of intake. If code checking comes up with DTC 16 or 36, those are opti related that can be caused by opti or it's wiring. DTC 41 & 42 are icm related codes.
Don't forget about your fuel system either. Get a fuel pressure gauge and see if you have 43 psi or there abouts at key on prime. Also test fuel pressure while idling and under driving conditions. To check while driving, tape gauge to windshield. Fuel pressure can fall some while idling but should be right up there under most driving conditions. One thing, I'm not sure if 93 has a schrader valve on the fuel rail to hook up pressure gauge, like other years of lt1 cars have.
www.shbox.com will have a pic of where valve should be.
