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Based on Oracle's DB licensing I wouldn't bother with their cloud option.2TB local is gonna cost you a fortune
e.g. 1-grid will charge 1k a month for it...and that's on shitty SATA drives.
You could have a look at azure and huawei cloud too...they have a ZA presence. Think oracle cloud does too from memory
If you can drop the local req then you've got more options