Take it to a machine shop
D
It's got to be drilled out and then tapped with the right size thread tap. Wouldn't trust myself using a handheld drill to do it, nor would I trust anyone with a handheld drill to do it tbh. Take it to a machine shop and get a pillar drill on it. After that it's fairly straight forward, only screw them in hand tight, so i've read before on studs.
Don't forget the head also has to be drilled out as well.
will the block have to be stripped down ?or can it be done with pistons in ?i would use a pillar drill. if you have access to one, do it yourself. if not, then take it to a machine shop.
you could do it with a hand drill, but i wouldnt want to try it
engines forged yes ,if your going to attack it with a hand drill then you can do it with everything in, just block up everything with rag so no swarf can get in anywhere. but as i said, i wouldnt want to do it.
i would personally strip the whole block down, get the work done and clean it all out before fitting everything back. what is your reason for uprating the headbolts to studs? is your engine forged already?