this article implies that it can be done, it just gives no info as to the process
http://www.imation.com/government/nm...agtape_S_H.pdf
taken from page 12
Over time, the level of lubricant in the tape decreases. Lubricants are partially
consumed every time the tape is played. This is all part of their job as lubricants β
they are consumed and worn down sacrificially to protect the tape. Some of the
lubricant will migrate from the tape to the guide pins and heads of the recorder each
time the tape is played.
Lubricant levels decrease over time even in unplayed, archived tape as a result of
evaporation and degradation. The lubricants used in some tapes are oily liquids that
are volatile and slowly evaporate away over time. Some lubricants are also subject
to degradation by hydrolysis and oxidation, just like the binder polymer, and will
lose their essential lubrication properties with time.
The information stored on severely degraded magnetic tapes can be recovered, in
specific instances, after relubrication of the tapes. By significantly reducing the
friction of the magnetic coating with the addition of lubricant, tapes can be made to
play back. Prior to relubrication, the tape may have seized in the tape transport as a
result of high friction, or the magnetic coating may have been readily torn off the
tape backing by a high speed tape head. Relubrication of tapes must be done
carefully by experienced individuals. If a tape is over-lubricated, the excess lubricant
on the surface of the tape will act as debris and increase the head-to-tape spacing,
causing signal losses and dropouts.