That oil consumption is way too high, suggest you have a leak in the lube oil cooler or raw water pump. Either way,I would be investigating and curing before the engine itself starts inhaling water. Not familiar with that particular engine, but usually there is an oil passage to the head that relies on the head gasket for sealing, if the engine is "dry" at rest (water drains back after running) it could possibly be the head gasket.
Hope this helps,
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