Odds are, that is a cartridge bb. Those are generally not serviced, but replaced as a whole. The tools you suggest would both work to remove it - but you only need one. The two easy parts are determining BB shell width (68 or 73 mm) and the axle lengths. There are some options on which threading it might be, but sone net searching might tell you what to use. Then pick up a new square taper bb of the required spec and desired price level and go at it.