Sure, it is possible but it will depend on a few things.
1. If you are going to do a full restore, then it will probably take more than 15 minutes (think about the size of the data that needs to be recovered)
2. You could investigate if instant recovery works for you. This will start the VM from the backup, but this most probably will be slower (your backup storage will be slower). While it runs, then you can migrate it back online to the production storage
3. You might consider to recover only the databases if you already have other oracle boxes ready.
Veeam gives you a lot of different restore possibilities and I would investigate those, see what works best specifically for your environment and think about the scenario's where you want to recover very fast. After all, in your SLA, always keep in mind that minor issues can be fixed quickly (think explorer for Oracle). But a big disaster (fire in the datacenter) will require a different approach
Hope it helps