Heat olive oil in a large skillet over medium heat.
Add diced onion and cook for 3-4 minutes until softened.
Add minced garlic and cook for 30 seconds until fragrant.
Add ground beef to the skillet and cook, breaking it apart with a spoon, until browned and no longer pink, about 6-8 minutes.
Drain excess fat from the skillet if necessary.
Stir in the rinsed rice, diced carrots, cumin, paprika, oregano, salt, and black pepper. Cook for 1-2 minutes to toast the rice slightly.
Add beef broth and diced tomatoes with their juices to the skillet. Stir to combine.
Bring the mixture to a boil, then reduce heat to low. Cover and simmer for 15 minutes.
After 15 minutes, stir in the frozen peas. Cover and cook for an additional 5 minutes until the rice is tender and liquid is absorbed.
Remove from heat and let the skillet sit covered for 5 minutes before serving.
Fluff the rice with a fork and serve warm.