That part is a quick disconnect Tee fitting for the heater hoses, the metal lines lead toward the water pump, and the perpendicular connection leads back to the heater core, I actually JUST finished replacing that Tee fitting and the perpendicular hose (what a PITA!) a few hours ago. That oil buildup is definitely suspect in that area, because something must be spraying oil onto that connection, as the dipstick is below (and that's not from a "drip") and the oil filler neck is a ways away, unless the last person to fill the oil was a bit sloppy and splashed some around. Best bet is to definitely clean all that with degreaser, and watch it closely to see where the source is. Good luck!