Tiempo de espera para el método OracleDataReader.Read

Aquí está la solución con la que finalmente opté. Es solo un método de extensión para la clase OracleDataReader. Este método tiene un valor de tiempo de espera y una función de devolución de llamada como parámetros. La función de devolución de llamada normalmente (si no siempre) sería OracleCommand.Cancel.

namespace ConsoleApplication1
{
    public static class OracleDataReaderExtensions
    {
        public static bool Read(this OracleDataReader reader, int timeout, Action cancellationAction)
        {
            Task<bool> task = Task<bool>.Factory.StartNew(() => 
                {
                    try
                    {
                        return reader.Read();
                    }
                    catch (OracleException ex)
                    {
                        // When cancellationAction is called below, it will trigger 
                        // an ORA-01013 error in the Read call that is still executing.
                        // This exception can be ignored as we're handling the situation
                        // by throwing a TimeoutException.
                        if (ex.Number == 1013)
                        {
                            return false;
                        }
                        else
                        {
                            throw;
                        }
                    }
                });

            try
            {
                if (!task.Wait(timeout))
                {
                    // call the cancellation callback function (i.e. OracleCommand.Cancel())
                    cancellationAction();

                    // throw an exception to notify calling code that a timeout has occurred
                    throw new TimeoutException("The OracleDataReader.Read operation has timed-out.");
                }
                return task.Result;
            }
            catch (AggregateException ae)
            {
                throw ae.Flatten();
            }
        }
    }
}

Aquí hay un ejemplo de cómo se puede usar.

namespace ConsoleApplication1
{
    class Program
    {
        static string constring = "User ID=xxxx; Password=xxxx; Data Source=xxxx;";

        static void Main(string[] args)
        {
            using (OracleConnection con = new OracleConnection(constring))
            using (OracleCommand cmd = new OracleCommand())
            {
                cmd.Connection = con;
                con.Open();

                Console.WriteLine("Executing Query...");

                string sql = "<some long running sql>";
                cmd.CommandText = "PROC_A";
                cmd.CommandType = System.Data.CommandType.StoredProcedure;
                cmd.Parameters.Add(new OracleParameter("i_sql", OracleDbType.Varchar2) { Direction = ParameterDirection.Input, Value = sql });
                cmd.Parameters.Add(new OracleParameter("o_cur1", OracleDbType.RefCursor) { Direction = ParameterDirection.Output });

                try
                {
                    // execute command and get reader for ref cursor
                    OracleDataReader reader = cmd.ExecuteReader(CommandBehavior.CloseConnection);

                    // read first record; this is where the ref cursor SQL gets evaluated
                    Console.WriteLine("Reading first record...");
                    if (reader.Read(3000, cmd.Cancel)) { }

                    // read remaining records
                    Console.WriteLine("Reading records 2 to N...");
                    while (reader.Read(3000, cmd.Cancel)) { }
                }
                catch (TimeoutException ex)
                {
                    Console.WriteLine("Exception: {0}", ex.Message);
                }

                Console.WriteLine("Press any key to continue...");
                Console.Read();
            }
        }
    }
}

Y aquí hay un ejemplo de la salida.

Executing Query...
Reading first record...
Exception: The OracleDataReader.Read operation has timed-out.
Press any key to continue...