Solution : https://service.sap.com/sap/support/notes/1429324 (SAP Service marketplace login required)
Key words : 
parameters _optimizer_join_sel_sanity_check=true _optimizer_or_expansion=depth _optim_peek_user_binds=falseand follow, mandt    recn    delflg    valfr    valto    recntvh  table estvp, primary key          %_hints oracle '&substitute values&', mandt    estcat    recn    recnrootthen carry, delflg    recn  table estvh, specification managementthe runtime behavior, deleting data periodically, function module ehsb_delflaged_data_remove, table estvp, program text search
Related Notes : 
       
| 1539379 | Internal system error in program RC1PHDEL | 
| 1406547 | Program RC1PHDEL requires excessive runtime | 
| 899322 | DB6: DB2 9.1 Standard Parameter Settings | 
| 851151 | DB6: New functions in DB2 V8 FixPak 9 (V8.2.2) | 
| 825392 | DB6: Check DB2 registry setting "DB2_WORKLOAD=SAP" | 
| 755342 | Incorrect execution plans with bind variable peeking | 
| 418185 | Long runtimes for report RC1PHDEL in master data matchup | 
| 416348 | SQL lang. error ORA-1555 for physical deletion with RC1PHDEL | 
| 124361 | Oracle parameterization (R/3 >= 4.x, Oracle 8.x/9.x) |