Wash the rice and set it aside so that it is ready to go when you start cooking.
Add the olive oil and butter to a small saucepan and heat it up on medium heat.
Add the Orzo pasta to the oil and butter mixture and toast/sauté the pasta until it turns a deep brown color. CAUTION, stir the orzo all the while because it burns easily. The pasta should be brown, but not burnt!
Add the rice to the orzo and mix together. Add water and salt to the rice and bring to a gentle boil.
Cover the saucepan with a lid, reduce the heat to lowest setting and cook for 15 minutes.
Remove the orzo rice from heat and serve hot. If you have the time, let the rice stand for 5-10 minutes before serving.