Create Read-Only User in Oracle – Step-by-Step Guide

You need to grant the REFERENCES privilege on the reference table to user2. (See GRANT, Table Privileges section. Note that this cannot be granted to a role, must be granted to the user directly.)

Here's a demo:

SQL> create user user1 identified by user1;
User created.
SQL> grant create session, create table, unlimited tablespace to user1;
Grant succeeded.

SQL> create user user2 identified by user2;
User created.
SQL> grant create session, create table, unlimited tablespace to user2;
Grant succeeded.

SQL> create table user1.ref_table (id number primary key);
Table created.
SQL> insert into user1.ref_table values (1);
1 row created.
SQL> insert into user1.ref_table values (2);
1 row created.
SQL> commit;
Commit complete.

SQL> grant references on user1.ref_table to user2;
Grant succeeded.

SQL> connect user2/user2;
Connected.
SQL> create table oth_table (thing number, fk number);
Table created.
SQL> alter table oth_table add(constraint fk1 foreign key (fk)
  2      references user1.ref_table on delete set null);
Table altered.

SQL> insert into oth_table values (42, 1);
1 row created.
SQL> insert into oth_table values (256, 2);
1 row created.
SQL> commit;
Commit complete.

SQL> connect user1/user1;
Connected.
SQL> delete from ref_table where id = 1;
1 row deleted.
SQL> commit;
Commit complete.

SQL> connect user2/user2;
Connected.
SQL> select * from oth_table;

     THING     FK
---------- ----------
    42
       256      2

If you want admin to do all the work, it'll need the CREATE ANY INDEX privilege, and you still need the REFERENCES grant to user2.

Here's how that could work:

SQL> create user user1 identified by user1;
User created.
SQL> create user user2 identified by user2;
User created.
SQL> create user admin identified by admin;
User created.

--- Grants
----------------
SQL> grant create session, create table, unlimited tablespace to user1;
Grant succeeded.
SQL> grant create session, create table, unlimited tablespace to user2;
Grant succeeded.
SQL> grant create session, create any table,
  2        create any index, alter any table to admin;
Grant succeeded.

--- Create reference table as admin
----------------
SQL> connect admin/admin
Connected.
SQL> create table user1.ref_table (id number primary key);
Table created.

--- Do the "references" grant
----------------
SQL> connect / as sysdba
Connected.
SQL> grant references on user1.ref_table to user2;
Grant succeeded.

--- Create the second table as admin
----------------
SQL> connect admin/admin
Connected.
SQL> create table user2.oth_table (foo number, bar number);
Table created.

--- Add the constraint
----------------
SQL> alter table user2.oth_table add(constraint fk
  2      foreign key (bar) references user1.ref_table(id)
  3      on delete set null);
Table altered.

you first need to connect as root to the database, then you create the admin user.

console

connect /as sysdba

sql

create user admin identified by secret
grant dba to admin 
conn admin/secret