11g Release 2 ( Patch Set 1, Oracle Database patch sets are full installations of the Oracle Database software. This means that you do not need to install Oracle Database 11g Release 2 ( before installing Oracle Database 11g Release 2 (
Note the following changes with the new patch set packaging:

New installations consist of installing the most recent patch set, rather than installing a base release and then upgrading to a patch release.
Direct upgrades from previous releases to the most recent patch set are supported.
Out-of-place patch set upgrades recommended, in which you install the patch set into a new, separate Oracle home. In-place upgrades are supported, but not recommended.

For more information please check README for 10098816

EBS 12 References