Heat olive oil and butter in a large skillet over medium heat. Add chicken and sear until golden on all sides, about 5–6 minutes. Remove and set aside.
In the same skillet, add chopped onion and cook until soft, about 3 minutes. Stir in minced garlic and cook for 30 seconds.
Sprinkle in smoked and sweet paprika. Toast for 30 seconds to release flavor.
Pour in the chicken broth, scraping any browned bits. Simmer for 2–3 minutes to reduce slightly.
Lower the heat and return chicken to the skillet. Pour in the heavy cream and stir. Let simmer gently for 8–10 minutes, or until sauce thickens and chicken is cooked through.
Season with salt and black pepper to taste. Serve over warm rice and garnish with chopped parsley.
