Preheat your oven to 375°F (190°C). Select a medium skillet and heat 2 tablespoons of olive oil over medium heat. Add the finely chopped onion and cook until softened, about 3-4 minutes.
Add the diced red and green bell peppers to the skillet. Sauté for another 4-5 minutes until they begin to soften, releasing their natural sweetness. Stir occasionally to ensure even cooking.
Incorporate the minced garlic and stir for about 1 minute, allowing it to release its aroma without browning. Add the smoked paprika and stir briefly to infuse the oil with its flavour.
Add the sliced chorizo and diced jamón serrano to the skillet. Cook for 3-4 minutes until the chorizo releases its oils and both meats are lightly browned, enhancing the flavour base of the dish.
Pour in the tomato sauce and season with a pinch of salt and black pepper. Stir well to combine all ingredients. Allow the sauce to simmer for about 5 minutes, thickening slightly.
Add the green peas to the skillet and stir to combine. Simmer for an additional 2-3 minutes, just until the peas are tender. Taste and adjust seasoning if needed, keeping in mind that chorizo and jamón add saltiness.
Divide the mixture evenly into four small oven-safe baking dishes or cazuelas. Make a shallow well in the centre of each dish and crack an egg into each well, taking care not to break the yolk. Place the dishes on a baking sheet for easier handling.
Bake in the preheated oven for 10-12 minutes, or until the egg whites are set but the yolks remain slightly runny. Garnish with a sprinkle of chopped parsley and a small sprig of fresh parsley if desired. Serve immediately with crusty bread on the side to soak up the sauce.