Heat olive oil in 6-quart saucepot over medium-high heat and brown beef.
Stir in remaining ingredients except peas.
Bring to a boil over high heat. Reduce heat to medium-low and simmer covered stirring occasionally, 1-1/2 hours or until beef is tender. Stir in peas. Cook 5 minutes or until heated through. Season, if desired, with salt and ground black pepper.