He says the noise is coming from the right hand balance shaft. He says the balancing shaft bush is worn out or damaged.
According to him, the balance shaft can be disabled by removing the gear that meshes with the oil pump gear and replacing it with a spacer which will not be in contact with the oil pump gear. He says this should solve the problem. he however has warned that i might experience some higher vibration of the motor especially at low revs.

The alternative is to replace the bush. According to the engine manual, replacing the bush appears to be a major operation that requires special tools and basically removing the engine from the car.
Has anybody ever done this? I mean disabling the balance shaft. By the way, disabling the shafts will cost a lot less (for now at least)if nothing else gets broken as a result of the higher vibrations.
Any advise will be welcome.