Heat olive oil in a large skillet over medium heat.
Add diced onion and red bell pepper to the skillet and sauté for 4-5 minutes until softened.
Add minced garlic and cook for 1 minute until fragrant.
Stir in the rinsed rice, smoked paprika, ground cumin, cayenne pepper, salt, and black pepper. Cook for 2 minutes, stirring frequently to toast the rice and spices.
Pour in the chicken broth and bring the mixture to a boil.
Reduce heat to low, cover the skillet, and simmer for 15 minutes without lifting the lid.
After 15 minutes, remove the lid and gently stir in the shrimp and thawed peas.
Cover and cook for an additional 5 minutes until the shrimp are pink and cooked through and the rice is tender.
Remove the skillet from heat and stir in chopped parsley and fresh lemon juice.
Let the dish rest for 2 minutes before serving.