In a medium to large saucepan over medium-high heat, heat the oil until shimmering. Add the bacon and saute 1 minute.

Add the diced vegetables, bay leaf, and peppercorns and saute until the onions are transparent, 5 to 8 minutes.

Add the peas and stock, raise the heat to high, and bring to a boil.

Reduce the heat to medium and simmer until the peas are tender, about 1 hour.

Remove the bay leaf and puree the soup in a blender. Strain through a medium-mesh strainer and season with salt and pepper.