Soften the bell peppers. Place the red bell peppers and hot water in a large Dutch oven. Set over medium heat and cook, stirring often, for 25 minutes. Gently press and turn as you stir; They will start to break apart and soften and most of the liquid will absorb.
Soften the chili peppers. Add the chili peppers and keep on stirring and cooking over a medium-low heat for another 10 minutes. By the end of this time the peppers will be cooked and the moisture evaporated. Turn off the heat and set aside to cool for 5 minutes.
Process the paste. Place the cooked peppers in a food processor and process until the mixture is almost a smooth purée (I like a little texture).
Reduce the paste. Return the puréed peppers to the pot, season with the salt and cook over a low heat for a further 30–35 minutes, stirring continuously so the purée doesn’t burn, until the juices have evaporated. The purée will shrink by half and turn into a soft paste. Remove from the heat.
Store. Pour the paste into a clean glass jar, and gently push down and shake a little to settle. Top with the extra virgin olive oil and seal with a lid. Allow to cool, then store your prepared paste in your refrigerator for up to 3 weeks.
