That does sound like the Event service, which is the service that records events so that the Event Viewer can show them. You can disable it in the Services tool in Administrative Tools (you can't Stop the service, only disable it then reboot). But you probably ought to fix whatever is causing the service to go haywire. Look in the Event Viewer to see what it's logging.
Of course, I don't seem to have such a file on my system, so it may not be that. Search for that file name, then look at the properties for the file and see who it comes from and what it is supposed to be.