In a large pot over medium heat…
Pour in the oil
Add the carrots, and onions
Cook for about 5 minutes, allowing the vegetables to become somewhat tender
Add the garlic, and continue to cook for about 1 minute longer
Add the broth, thyme, ham bone, peas, and bay leaves
Bring to a boil
Reduce the heat, cover, and simmer for about 1 hour, or until peas are soft
Remove the ham – transfer it to a cutting board, and pull off pieces of ham
Place those in the soup
Remove the bay leaves
Season with salt, and pepper