The hose coming from the oil filter housing reaches this point with no kinks or interference. Drilled a ~1/8 inch hole (right angle Dremmel attachment) and secured using a stainless steel sheetmetal screw/washer. This electrically grounds the sender. I used a small piece of double sided tape on a portion of the clamp to keep the sender in place. The sender shown has a terminal for the gauge (G) and another one (WK, warning contact) for the instrument cluster idiot light. Since I kept the stock oil pressure sender switch, using this terminal is not necessary.
As mentioned earlier, I had to remove the air collector box to get at the oil filter port. At this port I installed the VDO angle adapter 240043 and the remote extension hose 150752. The other end of this hose goes to the gauge sender. To remove the air collector box BMW recommends using a tool to remove the 6 individual intake clamps. This tool part number 90 88 6 119 160 retails for $97.00.
The clamps part number 11 61 7 831 745 retail for $0.75 each. I ended up ruining one clamp because of interference from the air rail. You can remove the air rail but you have to remove other things to do this. Easier replacing the clamps, which BMW recommends to do.