Heat olive oil in a sauce pan on medium heat. Sauté the tomato paste until the oil turns into a bright orange color. Add the spices and stir for 1 minute until the flavors bloom, then add the water and whisk to remove lumps until completely smooth. Add more water for a thinner sauce. 

Bring to a simmer and remove from the heat, allow to cool slightly before jarring. Refrigerate up to 6 weeks.