In a large heavy based pot/dutch oven heat 1 teaspoon of olive oil and fry bacon for 4-5 mins until the fat starts to render and the bacon starts to crisp, then remove bacon from pot and set aside (leave fat in pot)
Add butter to the same pot along with the onion and fry over medium low heat for 3-4 mins or until onion starts to soften, then add tomato paste & garlic and fry for a further minute
Add wine, scraping the base of the pot to release the spots of flavour then bring to a simmer. Simmer uncovered for 2-3 mins or until reduced by about half
Add stock, milk, chopped potato, fresh thyme, oregano, smoked paprika and sweet paprika then bring to a simmer.
Simmer partially covered with a lid (or a baking tray, fry pan etc) over medium low heat for 20 mins or until potato is tender and cooked through when tested
Meanwhile, heat remaining 2 teaspoon of olive oil in a non stick pan, and fry prawns/shrimp for 1-2 mins on each side or until just cooked through then immediately remove from heat and set aside
When potato is cooked, remove soup from heat, and using a potato masher break up the potatoes into smaller pieces (right in the soup) then using an immersion/stick/handheld blender, blend soup until smooth and creamy (see notes)
Put pot (with soup still inside but now blended) back on the stove over medium heat and bring to a slight simmer. When the mixture starts to bubble add frozen corn & reserved bacon, continuing to heat until corn is cooked - usually only 2-3 minutes
Add prawns to soup to reheat, then ladle into bowls and serve immediately with crusty bread