water in oil on Yamaha f115?

I've been getting water mixed in with my oil on my 2000 Yamaha 115 fourstroke outboard. I was told it may be my oil pump since this year class has had this exact problem. I don't understand how this works. Is there a water jacket that surrounds the oil pump? I want to be sure that this can be the case before I buy the part since it is expensive (I was told about $350). Any ideas on this?

[boats.net]

Oil pump is mounted below powerhead and drive shaft goes through, if seals are bad it is possible to get water in it.

[Aleutianwest]

Oil in water

If you are the original owner you might be able to get the dealer to doit on a warranty on good faith .if the motor is in the right serial number range because the oil pumps had problems with seals in a certain range of numbers

[loyoki]

Water in oil F115

Hi, I am french so pardon for my english.
I have a F115 and I had 3 times water in oil.
The first time it was oil pump: models before 2002 had 1 seal and when it is used water pass through, it has been replaced with 2 seals model. the second time it was oil pan gasket and the third time it was cylinder gasket.
Check if your F115 runs normaly, especialy at low mode. Just after running, check sparkplugs: they must be dry (no water) and black smoke (no white).
If it is ok, it must be the oil pan.
Another rule to identify the problem: change oil pan, and runs with your F115 only 10 minutes at 4000/5000 rpm. If water comes immediately in oil like "mayonnaise", and level of oil is higher than it is probably water in cylinder or in exhaust gaz so it must be cylinder gasket or worse (hole in power head).
When I had the problem with oil pump, water came slowly in oil (after 10h running).
To check if there is no water in exhaust gas, you have 4 screws (1/cyl), on the right side of powerhead (regarding front of boat). unscew 1 by one them, motor running and check if there is no water splashing (only exhaust gas).

[loyoki]

Oil pan

I have forgotten: if it is oil pan, you have to replace not only it but also drive shaft (the sping in seal must have damaged it) and all (expensives) gaskets, it is more than $1000, good luck

[loyoki]

Not oil pan but pump

Sorry, I would mean oil pump (not pan)