If you already have 4 tablespoons annatto oil, skip to step 4. Otherwise make the annatto oil: put 1 1/2 tablespoons annatto seeds and 3 tablespoons extra virgin olive oil in a small saucepan over low–medium heat.
Heat until tiny bubbles form around the seeds, then immediately turn off the heat and let the seeds steep in the oil for 2 minutes. Do not overcook the seeds (they can become bitter).
Strain the oil through a fine-mesh strainer into a container, discard the seeds, and set the annatto oil aside.
In a large saucepan over medium heat, warm 4 tablespoons annatto oil (use pre-made annatto oil or the oil you made in steps 1–3).
Add 1 finely chopped garlic clove and 1/2 medium onion (finely chopped). Sauté about 3 minutes, stirring, until the garlic and onion are softened and just starting to color.
Add 1 1/2 cups green peas and 1 cup diced roasted peppers. Cook, stirring occasionally, for 5 minutes until heated through.
Add 4 cups cooked jasmine rice. Break up any clumps and stir well so the rice is evenly coated with the annatto oil.
Season with 1 teaspoon paprika, 1/2 teaspoon salt, 1/2 teaspoon pepper, the zest of 1 lime, and 1 tablespoon lime juice. Stir to combine and cook for another 2 minutes to warm and meld the flavors.
Taste and adjust seasoning if needed, then serve the rice warm.