Exception in prepared execute on table SystemEvents : oracle webcenter installation issue

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I am trying to instal oracle web-center in Windows Server 2008 R2. But I am getting this exception (in sites.log) and installation fails.

Here's my stack trace. Any kind of help is appreciated.

[2013-12-20 03:27:12,141 PST] [ERROR] [pool-7-thread-1] [fatwire.logging.cs.db] Exception in prepared execute on table SystemEvents: SELECT eventname,type,enabled,times,target,params FROM SystemEvents
java.lang.NullPointerException
at COM.FutureTense.Servlet.JDBCTable.prepare(JDBCTable.java:1767)
at COM.FutureTense.Servlet.JDBCTable.executeQuery_trans_logic(JDBCTable.java:1628)
at COM.FutureTense.Servlet.JDBCTable.executeQuery_trans(JDBCTable.java:1590)
at COM.FutureTense.Servlet.JDBCTable.executeQuery(JDBCTable.java:1430)
at COM.FutureTense.Servlet.JDBCTable.SelectRow(JDBCTable.java:1025)
at COM.FutureTense.Common.ftDBTable.selectTo(ftDBTable.java:2229)
at COM.FutureTense.Event.ftEvent.getEventsList(ftEvent.java:309)
at COM.FutureTense.Platform.SystemEvents.SystemEventFactoryImpl.getSystemEvents(SystemEventFactoryImpl.java:62)
at COM.FutureTense.Platform.SystemEvents.HeartBeat.run(HeartBeat.java:43)
at java.util.concurrent.Executors$RunnableAdapter.call(Executors.java:439)
at java.util.concurrent.FutureTask$Sync.innerRunAndReset(FutureTask.java:317)
at java.util.concurrent.FutureTask.runAndReset(FutureTask.java:150)
at java.util.concurrent.ScheduledThreadPoolExecutor$ScheduledFutureTask.access$101(ScheduledThreadPoolExecutor.java:98)
at java.util.concurrent.ScheduledThreadPoolExecutor$ScheduledFutureTask.runPeriodic(ScheduledThreadPoolExecutor.java:180)
at java.util.concurrent.ScheduledThreadPoolExecutor$ScheduledFutureTask.run(ScheduledThreadPoolExecutor.java:204)
at java.util.concurrent.ThreadPoolExecutor$Worker.runTask(ThreadPoolExecutor.java:895)
at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:918)
at java.lang.Thread.run(Thread.java:662) less…
java.lang.nullpointerexception
1

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smya.dsh On BEST ANSWER

The user I had created needed some particular roles and system privildges.

Roles : CONNECT, CSW_USR_ROLE, RESOURCE, WFS_USR_ROLE

System privileges : CREATE SESSION, CREATE TABLE, CREATE VIEW, UNLIMITED TABLESPACE

I had given some other roles and privileges which were unnecessary, hence the error came.