Heat olive oil in a large skillet over medium heat.
Add diced onion and red bell pepper to the skillet and cook for 4-5 minutes until softened.
Stir in minced garlic and cook for 1 minute until fragrant.
Add the rice to the skillet and stir to coat with the oil and vegetables.
Pour in the chicken broth and add smoked paprika, dried oregano, cayenne pepper, salt, and black pepper. Stir to combine.
Bring the mixture to a boil, then reduce heat to low and cover the skillet with a lid.
Simmer for 15 minutes without lifting the lid, until the rice is tender and liquid is absorbed.
Remove the lid and evenly distribute the shrimp over the rice.
Cover and cook for an additional 5-7 minutes until the shrimp are pink and cooked through.
Stir in the thawed peas and cook uncovered for 2 minutes to warm through.
Remove from heat and sprinkle chopped fresh parsley over the top before serving.