In case your text is compressed inside the blob using DEFLATE algorithm and it's quite large, you can use this function to read it
CREATE OR REPLACE PACKAGE read_gzipped_entity_package AS
FUNCTION read_entity(entity_id IN VARCHAR2)
  RETURN VARCHAR2;
END read_gzipped_entity_package;
/
CREATE OR REPLACE PACKAGE BODY read_gzipped_entity_package IS
FUNCTION read_entity(entity_id IN VARCHAR2) RETURN VARCHAR2
IS
    l_blob              BLOB;
    l_blob_length       NUMBER;
    l_amount            BINARY_INTEGER := 10000; -- must be <= ~32765.
    l_offset            INTEGER := 1;
    l_buffer            RAW(20000);
    l_text_buffer       VARCHAR2(32767);
BEGIN
    -- Get uncompressed BLOB
    SELECT UTL_COMPRESS.LZ_UNCOMPRESS(COMPRESSED_BLOB_COLUMN_NAME)
    INTO   l_blob
    FROM   TABLE_NAME
    WHERE  ID = entity_id;
    -- Figure out how long the BLOB is.
    l_blob_length := DBMS_LOB.GETLENGTH(l_blob);
    -- We'll loop through the BLOB as many times as necessary to
    -- get all its data.
    FOR i IN 1..CEIL(l_blob_length/l_amount) LOOP
        -- Read in the given chunk of the BLOB.
        DBMS_LOB.READ(l_blob
        ,             l_amount
        ,             l_offset
        ,             l_buffer);
        -- The DBMS_LOB.READ procedure dictates that its output be RAW.
        -- This next procedure converts that RAW data to character data.
        l_text_buffer := UTL_RAW.CAST_TO_VARCHAR2(l_buffer);
        -- For the next iteration through the BLOB, bump up your offset
        -- location (i.e., where you start reading from).
        l_offset := l_offset + l_amount;
    END LOOP;
    RETURN l_text_buffer;
EXCEPTION
    WHEN OTHERS THEN
        DBMS_OUTPUT.PUT_LINE('!ERROR: ' || SUBSTR(SQLERRM,1,247));
END;
END read_gzipped_entity_package;
/
Then run select to get text
SELECT read_gzipped_entity_package.read_entity('entity_id') FROM DUAL;
Hope this will help someone.