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After reading your post, a question that comes to my mind is, if the column is defined as NOT NULL, how do you propose to get rid of the data inside the column? You cannot set it to NULL; so presumably you will update it with smaller string like f.ex. "DUMMY".
Is the data causing
1. backup delays?
2. performance problems?
If it is related to backup, then you can evaluate partitioning.
If it is related to performance, then you have other options along with partitioning.
If I have to insert a DUMMY file which will be an UPDATE right ? I need to be able to reclaim the freed space back to the tablespace. Will that be possible ? I have a meeting and I am going to be the main course. Thank you for the suggestions.
Is it a BLOB, CLOB, NCLOB or BFILE ?
Also, check out
If you alter the table, it invalidates the packages. Is there any alternative