u/Few-Programmer4313

I started seeing some oil drops under my car not much just abit so i found this part that has alot of oil on it
-What is this part ?
-Can it cause smoke from the right side from the engine next to the engine ? Because i see light smoke and it smells like burning oil
-Note : valve cover has been changed 2 months ago, bottom engine gasket has been changed 3 days ago