Heat oil in medium saucepan on medium. Add onion and cook, stirring occasionally, until tender and golden, 5 to 7 minutes.
Add water, chicken bouillon base, pasta, and Parmesan rind and bring to a vigorous simmer, stirring occasionally, until pasta is tender and most of liquid is absorbed, 10 to 12 minutes.
Stir in peas and ¼ teaspoon pepper. Remove from heat and remove Parmesan rind. Serve immediately, drizzled with olive oil and sprinkled with grated Parmesan.
