Had serpentine belt replaced said there was a lot of oil around the timing area
Any ideas to what the problem could be
the timing cover has a gasket that will leak over time. Nothing to be alarmed about till you have to add oil more than once a week.
When that happens what will be the problem then?
That's correct. And I would gently check the tightness of the fasteners. Sometimes the ones at the bottom get so loose they fall out. If it is a seal leaking, there are additives that soften and swell the seals and gaskets tight again. And I use motor oil designated for "High Mileage" engines.....those with more than 75K miles and it worked for me. Doesn't leak a drop anymore.
Thought all bolts and clean it up. Almost all cars have seepage on timing cover with timing chain engine. It's normal as long as it never drip. Silicon sealer loose it's sealing properties over hot and cold cycle but it takes 1000 years to fail completely.