Had this problem for a several months now. Seems to be more prevalent after start up if the vehicle has been sitting for a long while, didn't seem as obvious when I used the vehicle frequently.
Has to be coming from fluid dripping/leaking on to the exhaust, must be either oil or transmission fluid, I don't think anything else.
Smoke seems to be concentrated and coming from an area behind where the bottom of the EGR valve bolts on to the exhaust, but unfortunately I have been unable to see anything obvious from the engine bay.
I have just changing the valley hose and saw no evidence of oil in the valley or weeping anywhere from the induction system.
As mentioned it was smoking before I replaced the valley hose and it first did it after a long hiatus at the spray painters month back.
Keen to see if anyone has had a similar experience so I can order some parts and before I pay to get it up on the hoist!

Cheers

 

From your description, it may be one of the cam cover gaskets has failed causing oil to gather on the exhaust manifold or catalyst pipe joint.

 

Thanks for your reply NBCat.
I had another close look this morning with the engine running and it did appear that that may very well be the case, I would say you're probably right!
Nothing happening on the LH bank, looks very dry, just the RH. Seems to have a metal right angle tray of some sort on the lower part of the cam cover that is acting like a spout and draining the oil towards the rear and dripping it onto the hot manifold exhaust down the rear of the head where I cant see it.
Any special procedure in changing the cam cover gasket I should be aware of? Any advice on ensuring a good seal?
I did try and tighten the top cam cover bolts but they had no give, they were tight. Bottom bolts but weren't as easy to get to so I did't bother to check those for tightness.
A bit of oil down there as per photos.
Many thanks.



Lower RHS cam cover. Not sure what this metal tray above manifold is designed to do? Lots of oil on it.

More evidence of oil on lower side of RH cam cover.

 

Nothing really special about replacing the cam cover gasket and spark plug boss seals on the RH bank. Just clean the mating surface of the head and put a small dab of sealant, about 10mm or so, on the two areas at the front of the head where the timing cover and head meet. I find a 10mm quarter-inch drive swivel socket and long extension are helpful to reach some of the rear bolts.

The bolts for the cam cover should not be very tight, 14 Nm or so as the gasket provides the seal.

 

One other thing: be careful with the brass inserts for the coil units as they can break free of the cam cover if over tightened.