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The DRM WebService API requires Foundation Services to be installed and configured. You should read "Deploying and Configuring the Data Relationship Web Service API" in the following document: http://docs.oracle.com/cd/E17236_01/epm.1112/drm_install_1112200/frameset.htm?launch.html
There is a step by step OBE tutorial ,
In the document it is mentioned to install the EPM.
Do I need to install all EPM components or any specific?
No need to install full EPM package , just need to install Foundation services ( web services , shared services..). When you will run Install.bat just check foundation services checkbox at first.
then as per url have to install OID and then deploy API in webserver.
I think we not need necessary install OID but not sure on it, Kindly anyone suggest plz it is mandatory that have to install OID for API configuration.