Unless they changed this, Mitsubishi turbochargers are usually water and oil cooled in my experience with them (a separate fluid line for each going into the turbo center section.)
Using real synthetic oil after the engine's break-in period will go a long way in keeping a turbocharged engine just as reliable as any engine. You could easily run 200k miles or more before any serious overhaul was required. For many people that would be literally decades of service.
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