Lay out the shrimp on paper towels and season the shrimp with salt and pepper on both sides. Do the same with the scallops. Place a large sauté pan over medium heat, add 2 tablespoons of olive oil and heat through. Add a tablespoon of butter and allow to melt.
Add the shrimp and cook on each side until pink and no longer translucent, about a minute on each side. Remove from pan and place on a plate. Cover to keep warm.
Add an additional 2 tablespoons of olive oil and 1 tablespoon of butter to the pan, allowing it to melt, then add the scallops to the pan and cook until lightly browned on each side and just barely cooked through, about 2 minutes on each side. Remove from the pan and place on a plate, covered.
Return the pan to heat, add the remaining butter and allow to melt. Add the shallots and sauté until soft, about 2 minutes. Pour the white wine into the pan deglaze it, simmering until slightly reduced, about 6 to 8 minutes.
Whisk in the seafood demi glace followed by the tomato paste. Slowly whisk in the cream. Add the parsley and tarragon. Let simmer until the sauce begins to thicken, about 10 minutes.
Return the shrimp and scallops to the sauce to reheat them.
Ladle the sauce, scallops and shrimp over rice and serve immediately.
Video
Notes
*Note: Seafood demi-glace, a concentrated reduction of seafood stock, can be found at gourmet markets or online here.