2E7C

[Jasmina]

Hey folks,need a bit of a wisdom from some more experienced people.
So i recently developed an issue where my oil level is dead and i got a code 2e7c,water pump also runs continuously when the key is in the ignition. My car does not have ibs (idk why) just comes with brown lead to negative terminal (so its not ibs issue).
Ive also replaced the oil level sensor with brand new oem one. Ive disconnected the water pump connection and 2e7c code disappeared (just came up with no water pump error which is normal)connect it back and 2e7c is back on.
Does that mean my water pump is toasted (despite still cooling efficiently).
Or should i look into something else? Any input would be greatly appreciated,any tests i could perform (electrical or otherwise).
This has been doing my damn head in.
Also gotta do ofhg which is another story
Car in question is '08 135i