Heat the extra virgin olive oil in a wide skillet or paella pan over medium heat.
Add the diced yellow onion and red bell pepper, sautéing until softened and translucent.
Stir in the minced garlic, smoked paprika, and saffron threads, cooking for 1 minute until fragrant.
Add the tomato puree and cook for 2 minutes to concentrate the flavors.
Add the dry Bomba rice to the pan, stirring to coat every grain in the aromatic base.
Pour in the seafood stock and season with sea salt and black pepper.
Bring the liquid to a gentle simmer, then reduce the heat to low and cook undisturbed for 12 to 15 minutes until the rice is nearly tender.
Arrange the shrimp and mussels on top of the rice, pressing them down slightly.
Cover the pan and cook for an additional 5 to 7 minutes until the shrimp are pink and the mussels have opened.
Scatter the frozen peas over the top during the final 2 minutes of cooking.
Remove from heat and let rest for 5 minutes before serving with a fresh lemon wedge.