Heat the extra virgin olive oil in a paella pan or wide skillet over medium heat.
Add the sliced chorizo and sauté for 2-3 minutes until the fat renders and the edges are slightly crisp.
Stir in the diced onion and red bell pepper, cooking until softened, about 5 minutes.
Add the minced garlic and smoked paprika, stirring for 30 seconds until fragrant.
Pour in the tomato puree and cook for 2 minutes to create a thick, concentrated sofrito base.
Add the Bomba rice and stir to coat every grain in the oils and tomato mixture.
Pour in the seafood stock and add the saffron threads; bring to a boil, then reduce to a simmer.
Allow the rice to cook undisturbed for 10-12 minutes until most of the liquid is absorbed.
Nestle the shrimp and scrubbed mussels into the rice, cover the pan, and cook for another 5-7 minutes until the shrimp are pink and the mussels have opened.
Scatter the frozen peas over the top during the last 2 minutes of cooking.
Season with sea salt and black pepper, then garnish with fresh parsley and a lemon wedge before serving.