Well does it smell like oil burning or is it just steam? That area is generally an oil leak from the valve cover which is solved by resealing it. I don't know of any hose that runs from under the passenger side exhaust valve cover down to the turbo. The only small hose would be a coolant line to the turbo. That could be leaking onto the exhaust causing steam, but I bet it is oil dripping out of the valve cover onto the turbo/precat.
