Create a proxy service in oracle service bus project as below.
Right Click on proxy service , in my case (TestEmpPS) and Edit.
Click on “Transport Details” tab.
Select the Authentication as “Basic” and SAVE the project.
That’s it your done creating basic authentication for your proxy service.
Deploy the service bus project to your osb server and Test the proxy service.
When testing the proxy service, we have to provide the user details which exists in our weblogic server security realms.[ For exampe (weblogic)] in Transport section.