Turn the instant pot on sauté mode. Add oil, rice, salt and sauté for 2 minutes, stirring to coat the rice. Then add the water, cover and seal the pot and cook on high pressure for 25 minutes.
When done, quick release all pressure, open the pot and transfer the rise to a bowl. Set aside. Give the pot a quick rinse to remove all rice remains
Turn the instant pot on sauté mode once again. Add oil, when hot add in shrimp and sauté for 7-8 minutes or until no longer pink. Then add in the peppers and season with paprika, red pepper flakes, salt and pepper to taste. Sauté for an additional 8-10 minutes or until shrimp is cooked through and peppers have softened.
Divide rice and shrimp into meal prep bowls, cover and refrigerate for up to 5 days