Oracle Cloud Object Storage is the object storage service of Oracle Cloud Infrastructure (OCI). It stores unstructured data of any content type, such as analytics data, images and video, in buckets within a region and compartment. According to the documentation, the service is regional and not tied to a compute instance, and can be reached over the internet or privately from a virtual network. Stored data is encrypted server-side with AES-256, and several storage tiers are available. The service is delivered as a cloud service.
Oracle Corporation is headquartered in Austin, Texas, and is therefore subject to US jurisdiction, including the CLOUD Act. The customer chooses the region in which a bucket resides. In Europe, Oracle lists regions in France, Germany, Italy, the Netherlands, Spain and Sweden, as well as Switzerland, the United Kingdom and Serbia. A European organisation should check the data processing agreement and the terms for any processing outside the chosen region.