Engine bay question

Hi I'm new to the forum and posted a hello on the "Chat" forum.
I have a question about the K11 engine and bay, I decided that it needed a clean so I set about it with engine cleaner on the cam cover and found the whole engine, air intake, fuse box etc seems to be sprayed with wax oil or similar, is this a factory finish for protection? I looked but can't find any info on the web.
Thanks
Dave
 
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