On a Data Pump export, if you specify a database version that is older than the current database version, then a dump file set is created that you can import into that older version of the database. For example, if you are running Oracle Database 12c Release 1 (126.96.36.199) and specify VERSION=11.2 on an export, then the dump file set that is created can be imported into an Oracle 11.2 database.
If you specify a database release that is older than the current database release, then certain features may be unavailable. For example, specifying VERSION=10.1causes an error if data compression is also specified for the job because compression was not supported in Oracle Database 10g release 1 (10.1).
Data Pump Import can always read Data Pump dump file sets created by older releases of the database.
When operating across a network link, Data Pump requires that the source and target databases differ by no more than two versions. For example, if one database is Oracle Database 12c, then the other database must be 12c, 11g, or 10g. Note that Data Pump checks only the major version number (for example, 10g,11g, 12c), not specific release numbers (for example, 12.1,10.1, 10.2, 11.1, or 11.2).