Heat 1 teaspoon of olive oil in a sauté pan over medium heat. Add the cumin seeds and mustard seeds. Bloom the spices until they just begin to pop and smell fragrant; around 30 seconds to 1 minute.
Transfer your spices to a spice grinder or mortar and pestle and grind.
Add the rest of the olive oil to the sauté pan. Cook the onions, garlic, and ginger until soft, about 4 to 5 minutes.
Add the dry spices, curry paste, and tomato paste. Cook for 1 to 2 minutes, making a thick paste.
Add water and chicken breasts. Simmer on medium-low heat for 20 to 25 minutes.
Add the red peppers and a squeeze of lime, and cook for another 5 minutes. Check for seasoning; add more salt and pepper if needed.