Cleaning/stripping/sealing bilge wood

[55duke]

The hull of my boat is made of white cedar lapstrake over white oak frames. The cedar is very porous, and after replacing a few planks, I would like to strip the oil ( from the bilge water) and the inner hull finish, to be able to coat the inside of the hull with a penetrating sealer of some sort.

Any thoughts on the merit of this approach? Methods of stripping? Penetrating sealer types?

Thanks Peter