For the rice: Heat the oil in a large, deep, heavy skillet over high heat. Add 1 cup of the onions (save the rest of the onion for the sofrito sauce) and cook over medium-low heat, stirring, until softened, 3 to 4 minutes. Add ½ cup of the red bell peppers and ½ cup of the yellow bell pepper (save the rest of the bell peppers for the sofrito sauce) and cook until soft, 3 to 4 minutes.

Add the rice, butter, all-purpose seasoning, cumin and turmeric. Cook until the butter has melted and the spices are fragrant, 3 to 4 minutes.

Add the tomato paste and garlic, stirring to coat the ingredients with the paste. Cook until the garlic is fragrant and the tomato paste turns a dark red color, 3 to 4 minutes. Add the saffron and beer, bring to a simmer and cook until the beer is reduced by half, 4 to 5 minutes. Add the broth and salt, bring to a simmer, cover and cook on low heat for 20 minutes, adding the peas and olives halfway through cooking.

For the sofrito sauce: Gather all the extra onion and bell pepper and scraps left over from the rice. Roughly chop the scraps. Heat the grapeseed oil in a medium skillet over medium heat. Cook the onions and peppers until soft, 5 to 8 minutes. Add the garlic and all-purpose seasoning and cook for 1 minute. Add the chicken broth and cook until warmed through. Transfer the mixture to a blender along with the parsley and cilantro and blend until almost as smooth as you can get it; a few small pieces of vegetables remaining is fine.

Return the puree to the pan, add the sherry and salt. Cook over medium-low heat for 3 to 5 minutes to bring the mixture together and help intensify the flavor. Toss the shredded chicken into the sofrito and warm through.

After the rice has cooked 20 minutes, uncover the pan, stir in the chicken and sofrito sauce and cover again. Let sit off the heat for 5 to 8 minutes before serving.