Pour olive oil into your Instant Pot and add carrots, onion, celery, thyme and bay leaves.
Press “Sauté” and cook for about 2 minutes (until onion starts to turn golden).
Add also ham and cook for another minute, until it browns a bit.
Season with salt and pepper.
Add water and peas.
Cook at high pressure for about 20 minutes.
Let the steam release naturally.