Season the Chicken: In a large bowl, combine chicken thighs with adobo, oregano, turmeric, paprika, lemon juice, olive oil, and pepper. Mix well and let marinate for 30 minutes if time allows.
Sear the Chicken: In a large caldero or deep skillet, melt butter with olive oil over medium-high heat. Sear chicken on both sides until browned (about 3–4 minutes per side). Remove chicken and set aside.
Sauté Flavor Base: In the same pot, sauté sofrito, red bell pepper, and garlic for 2–3 minutes until fragrant.
Add Rice & Liquids: Stir in rinsed rice, turmeric, and bouillon. Add water and olives (if using). Season with salt and pepper to taste.
Cook the Rice & Chicken: Bring to a boil. Gently nestle seared chicken pieces on top of the rice and pour any juices back in. Cover, reduce heat to low, and simmer for 20–25 minutes until rice is tender and liquid is absorbed.
Fluff & Serve: Fluff the rice gently with a fork. Ensure chicken is cooked through (internal temp should be at least 165°F). Serve hot with Puerto Rican Habichuelas Guisadas on the side.