Instructions
1. Place the stock in a saucepan and bring to a gentle simmer.
2. Heat the oil and half the butter in a large heavy-based large pan over medium heat. Add the shallot and piece of pancetta and cook gently for about 2 minutes.
3. Add three quarters of the stock to the rice. Bring to a simmer and cook over medium-low heat for 10 minutes. Stir in the peas and cook for a further 6-7 minutes or until the rice is al dente.
4. Remove from the heat, discard the pancetta, then add the parmesan and remaining butter and stir well to release the starch. Season with salt and pepper and add an extra ladleful of stock to give it a slightly soupy finish.