Just.stomping by.to.say hello.

I have a 1998 Z28, I was the second owner and purchased it in 1999. I t has been a sweet Z. Recently began to hear loud noises and my oil gauge would not hold pressure, I was told by the first mechanic that my oil pump was going bad and another said my engine needs to be replaced. I found the engine suggestion hard to believe being that I had and engine diagnostics show no signs of engine damage 8 months ago. Is it common for the oil pumps in 98 z's to go bad?