Hi,
The short answer is unfortunately that no, this is not practically possible. There are too many changes required from nRF51 SDK v7 to nRF5 SDK 12 where the logger module was introduced.
Please note that if you are revisiting an old project written in nRF51 SDK v7, then you may have to port the project to a newer SDK if you are to use it in a new or updated product, since older Bluetooth versions have since been deprecated and withdrawn. For more info about this, see this blogpost on deprecation and withdrawal of Bluetooth Core specifications 4.0 and 4.1 and their impact on products.
Regards,
Terje