The oil pump is at the front main cap and the relief valve is part of the pump. It"s a piston and spring assembly and it can be shimmed with washers to adjust the relief somewhat. If the piston sticks open you"ll have low oil pressure because the pump is bypassing oil. The spring can break with the same result. Or you bearings can be worn and cause the same problem. Get a factory Ferguson Shop Manual (~$20)and the specs are in it for spring length and how to access it. You might want to by some Plastiguage and check the mains while you are at it since you"ll have the pan off. The oil pump on these engines is also prone to wear cause oil pressure problems so if the relief valve isn"t the problem and the mains are within spec, the pump is mostlikely worn.
By the way, you get a lot more response to this question in the Ferguson Forum.
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