I had to helicoil to the oil feed -> turbo banjo in the engine block today so I thought I'd do a Guide. I had to make some modifications to some tools to be able to do it in situ. You'll also need to be very careful to keep any swarf from going into the engine .
Here's the how to:
You need to drill out the existing threads, but you can't get a drill in the engine bay...so.... get a 31/64" drill bit and grind a hex head on the shaft so you can fit a spanner on it. Hmmm nice bodge
It took about 20 mins to work the drill into the block. Put some grease on the drill to get as much of the swarf to stick. Have a hoover attachment on it and regularly clear the swarf from the hole.
Next, you can't use the standard tap wrench cos there's no space, so get a 8mm socket and bodge that onto the end of the tap It's actually a good fit... (You can probably buy a tool specifically for this)
Again use the hoover loads and grease the tap....
Job done. Took about an hour in all
Edited to say: This is a bit of a bodge. If you want precision engineering, take the engine out and pay $$$$ for someone to do it properly.... or buy a longer banjo bolt and hope it bites on whatever theads you have left.
Edited again to say: Make sure the hole is perfectly straight or you'll have problems sealing the banjo. Mine was slightly off