I have a time sert 1215 kit that repairs the oil pan drain plug on an E30, creates a permanent repair that allows you to use your original drain plug. Time-sert and many others claim the repair is superior to factory because the steel sleeve can handle much more torque. The repair can be done with the pan still on the car.
Kit includes: a drill, a tap, a driver tap, counter bore and a carbon steel insert.
Not my picture but I have the same thing:
I have used up one insert and there are 4 left now, I thouigh I would rent it out locally to anyone that needs it before selling it. I am renting it for $30 which allows you to install and keep one of the carbon steel inserts.
PM or text 2898881707