After some advice. Currently stripping down the 1.9 DG that was in my van. What led to this was: I did a compression test and got around 130 psi on all cylinders except cylinder 3 which was 60ish (first red flag). Then I did an oil pressure test and got 4 bar (sorry for mixing up bar & psi) cold at idle 0.5 hot at idle (with flickering oil light on dash) and 1.5 when revving.
So I thought (before a bunch of welding work) lets get the engine sweet. I've since stripped it down to the point where the heads are off. As in below pic:

I'm a pretty amateur mechanic- and want to avoid tearing things apart that I don't need to/ will be very complex to get fixed and assembled. So I am trying to work out if I need to split the case. The valves on cylinder 3 look pretty burnt (pic at bottom), so I am going to get them out this weekend for a closer look, and probably replace and lap new ones in on that head. I am hoping this will fix the low compression as I think the heads look ok- but I welcome thoughts.
As for the low oil pressure do I need to split the case? Or will a new oil pump help? What am I looking for if I do split the case? Crankshafts and all of those components seem complicated to take apart and fix so just don't want to split it unless necessary. I am happy to do it, if I know what I am getting at.
Any advice will be greatly appreciate as I try to fix, and avoid wrecking my engine.
Thanks in advance, and sorry for the long questions!
Photo of suspect head (which is upside down):
