Season the shrimp. Pat shrimp dry with paper towels, then season with salt, pepper, and smoked paprika (if using). Set aside.
Cook the bacon. In a large skillet over medium heat, cook chopped bacon until crisp and the fat renders out, about 6–8 minutes.
Sauté the aromatics. Add diced onion to the skillet and cook until softened, 3–4 minutes. Stir in garlic and cook for about 30 seconds.
Build the flavor base. Add tomato paste and cook for 1 minute, stirring constantly so it darkens slightly and turns fragrant.
Simmer the sauce. Pour in crushed tomatoes and chicken broth. Stir in oregano and chili flakes (if using). Let it simmer until slightly thickened, about 8–10 minutes.
Make it creamy. Stir in heavy cream and Worcestershire sauce. Taste and adjust with hot sauce, salt, and pepper.
Cook the shrimp. Add shrimp to the sauce in a single layer. Cook 3–5 minutes, stirring gently, until shrimp are just opaque. Do not overcook.
Finish and serve. Sprinkle with parsley and serve right away with your favorite base (rice, pasta, or bread). Add lemon if you like a bright touch.