Heat the olive oil in a wide, shallow skillet over medium heat.
Add the sliced chorizo and cook until the fat renders and the edges are slightly crisp, then remove the chorizo and set aside.
In the same pan, sauté the diced bell pepper and minced garlic until softened and aromatic.
Stir in the Bomba rice, smoked paprika, sea salt, and black pepper, coating the rice in the flavorful oils for about 1 minute.
Pour in the chicken bone broth and add the saffron threads, stirring once to distribute.
Bring to a gentle simmer, then reduce heat to low and cook undisturbed for 12-15 minutes until the rice is nearly tender.
Nestle the shrimp, frozen peas, and cooked chorizo into the top of the rice.
Cover and cook for another 5 minutes until the shrimp are pink and opaque and the liquid is fully absorbed.
Remove from heat and let rest for 2 minutes, then garnish with fresh parsley and a lemon wedge before serving.