Needle Lift Sensor

Iirc it monitors fuel flow in relation to output from the injection pump and calibrates it.

They cost about £300 + new ......

The wire can wear through on the front of the timing cover so I'd check that first.
 
Thats the injector yes, the sensor is built into it I think. I've heard that a common failure is the wire being damaged rather than the sensor itself, although this wasn't the cause for me it's worth a look.
 
Had one go just over 100k so its just depends.Sourced one on ebay much cheaper