Yes, that's exactly the seal I was describing. I said camshafts, but that's because the VVT pulley is attached to the camshaft, and where the shaft goes through the side (actually the front, but let's not be pedantic here, transverse engines like these are mounted sideways in the car just to confuse things) of the engine there is a seal.
I'm intrigued by the oil appearing on the thermostat housing though. Directly above that, on the very top, there is the VVT solenoid which controls oil flow to the VVT itself. So that's a potential source and much easier than messing around with belts.
Or even the rocker cover itself. It has a liquid gasket rather than a traditional cardboard one. Has the engine ever overheated?
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