In an Instant Pot, press the saute mode with a timer of 12 minutes.
Heat oil and add in bacon. Cook bacon and then add in onion and cook until softened, about 3 minutes.
Add in garlic, ham, oregano, thyme, and bay leaves. Cook an additional 3 minutes. At this point the timer for the Instant Pot should be off, if not, press the cancel button.
Next, add in carrots, broth and peas. Mix well to combine ingredients. Place lid on Instant Pot and set valve to sealing. On manual mode, press high pressure and set the timer to 20 minutes.
Once timer is off, hit cancel and allow to naturally release for 10 minutes before switching the valve to quick release.
Open lid when the pressure valve has dropped, stir gently and add in salt and pepper to taste.
Note: The soup will be very thick when served as leftovers. You can thin it with more vegetable broth if you'd like.
The calories shown are based on the recipe serving 10 people with 1 serving being 1/10 of the recipe. Since different brands of ingredients have different nutritional information, the calories shown are just an estimate. **We are not dietitians and recommend you seek a nutritionist for exact nutritional information.**