Heat a medium saucepan on medium-high heat with 1 tbsp of olive oil. Add the shallot, onion, garlic, and oregano, and sauté for 3-4 minutes or until onions become translucent. Pour in the white wine and deglaze the pan, scraping brown bits off the bottom.
Add the water and bring to a boil. Then add the couscous, stir, and cover with a tight fitting lid. Remove from heat and let sit for 10 minutes. Remove the lid and using a fork, mix in the parmesan cheese, parsley, salt, and pepper. Cover and set aside while you cook the scallops.
Pat the scallops dry with paper towels, and season with salt and pepper. In a large non-stick skillet, heat 2 tbsps of butter and 1/2 tbsp of olive oil on medium-high heat. When the pan is hot, add the scallops and cook for 3-4 minutes undisturbed. When the scallops are mostly opaque, flip them and add the remaining 1 tbsp of butter, and cook for 1 minute undisturbed until they are completely opaque. Remove the scallops from the pan and transfer to a large plate tented with foil to keep them warm.
Turn off the heat, and using the residual heat in the pan, melt the remaining butter, then mix in the basil and white wine.
To serve, divide the couscous and scallops between plates and drizzle with basil butter.