Heat oil in a large pot over medium high heat. Add in ground turkey, onions, 1 tablespoon of oregano, garlic powder, salt, and pepper. Cook 4-5 minutes, or until turkey is browned. Drain any excess fat.
Return pot to heat, add in sofrito, seasonings, and peppers. Cook an additional 1-2 minutes, and add remaining ingredients, except for the rice.
Cook on a low simmer for 30 minutes, slightly covered, stirring occasionally or until peppers have softened to your liking.
Add in cooked rice and heat through before serving.