Heat the extra virgin olive oil in a paella pan or wide skillet over medium heat.
Add the diced yellow onion and red bell pepper, sautéing until the vegetables are softened and translucent.
Stir in the minced garlic, smoked paprika, and tomato puree, cooking for 2 minutes to develop the flavors.
Add the dry bomba rice to the pan and stir for 1 minute to toast the grains and coat them in the aromatic base.
Pour in the seafood stock and add the saffron threads and sea salt; bring the mixture to a boil.
Reduce the heat to a simmer and cook undisturbed for 10-12 minutes until most of the liquid is absorbed.
Arrange the raw shrimp and scrubbed mussels on top of the rice, pressing them down slightly into the grains.
Cover the pan with a tight-fitting lid or foil and cook for 5-7 minutes until the shrimp are pink and the mussels have opened.
Scatter the frozen peas over the top and let the pan sit off the heat, covered, for 5 minutes to allow a crust to form on the bottom of the rice.
Garnish with chopped fresh parsley and serve immediately with a fresh lemon wedge.