New Member with MDB3 problems

[MBYC]

Good Evening All

I am a new member and a recent returnee to Canada after living over seas for 20 years.
Currently in North Vancouver and enjoy boating in and around the gulf Islands. I have the use of a old Albin 27 with the original Volvo Penta MDB3. On a recent outing the first in the season the engine was run up but would not come up to RPM. When this was tried it just smoked. So we ran out a min throttle thinking that the prop needs a good clean. When we got to our proposed anchorage with nothing untoward happening with the engine. I slowed down to survey the bottom and then engine just died. I was able to restart but there was very little oil pressure. Engine did not over heat and Injectors had recently been service (late last season).
I decided to let the engine cool right down and then try starting again and when I did it started fine but ran like a bucket of bolts. The Engine had a major rebuild 10 years ago but I think this time it is really gone. I am looking to re-engine and need Ideas. I need to do this on limited funds. But am a Marine Engineer with reasonable experience in working with hand tools and fibre glass. What is the best option.

[leprof31]

Welcome MDYC!
It looks like a fuel problem.

To replace your engine, MD3b was rated 36HP, modern 30HP will do the job, but A27 can handle a lot more then 36HP.
If ever you replace your engine, let us know about used pieces of MD3B.

[NickScheuer]

I could use the forward jug is you end up parting your MB3D out.

Nick