FOR i IN cursortest
MERGE INTO test
         USING cursortest
 ON (i.contract_number = test.contract_number)
         WHEN MATCHED THEN
            UPDATE
               SET creation_date = SYSDATE
         WHEN NOT MATCHED THEN
            INSERT (customer_id, contract_number, creation_date)
            VALUES (i.customer_cpr_id, i.contract_number,SYSDATE);
end loop;

SQL> CREATE TABLE test_1 (
  2    colA NUMBER(10),
  3    colB NUMBER(10)
  4  );

Table created.

SQL>
SQL> ALTER TABLE test_1 ADD CONSTRAINT pk_test_1 PRIMARY KEY(colA);

Table altered.

SQL>
SQL> CREATE TABLE test_2 (
  2    colA NUMBER(10),
  3    colB NUMBER(10)
  4  );

Table created.

SQL>
SQL> INSERT INTO test_1 VALUES (1,1);

1 row created.

SQL> INSERT INTO test_1 VALUES (2,1);

1 row created.

SQL> INSERT INTO test_1 VALUES (3,1);

1 row created.

SQL> INSERT INTO test_1 VALUES (4,1);

1 row created.

SQL> INSERT INTO test_1 VALUES (5,1);

1 row created.

SQL>
SQL> SELECT * FROM test_1;

      COLA       COLB
---------- ----------
         1          1
         2          1
         3          1
         4          1
         5          1

SQL>
SQL>
SQL> INSERT INTO test_2 VALUES (1,1);

1 row created.

SQL> INSERT INTO test_2 VALUES (2,2);

1 row created.

SQL> INSERT INTO test_2 VALUES (3,3);

1 row created.

SQL> INSERT INTO test_2 VALUES (4,4);

1 row created.

SQL> INSERT INTO test_2 VALUES (5,5);

1 row created.

SQL> INSERT INTO test_2 VALUES (6,6);

1 row created.

SQL> INSERT INTO test_2 VALUES (7,7);

1 row created.

SQL>
SQL> SELECT * FROM test_2;

      COLA       COLB
---------- ----------
         1          1
         2          2
         3          3
         4          4
         5          5
         6          6
         7          7

7 rows selected.

SQL>
SQL> DECLARE
  2  BEGIN
  3    FOR l2 IN (SELECT * FROM test_2) LOOP
  4    BEGIN
  5      INSERT INTO test_1 VALUES l2;
  6
  7      EXCEPTION
  8      WHEN Dup_Val_On_Index THEN
  9         UPDATE test_1
 10            SET ROW = l2
 11          WHERE test_1.colA = l2.colA;
 12    END;
 13    END LOOP;
 14  END;
 15  /

PL/SQL procedure successfully completed.

SQL>
SQL> SELECT * FROM test_1;

      COLA       COLB
---------- ----------
         1          1
         2          2
         3          3
         4          4
         5          5
         6          6
         7          7

7 rows selected.

SQL>