Preheat the oven to 180C (350F)
Char the capsicums, one at a time, over an open gas flame on the stove or over a hot barbecue until the skin is blackened and blistered. Place the cooked capsicums into a large plastic bag until cooled. This will make them sweat and easier to peel. When cooled, peel the peppers - the skins will simply slip off the flesh - and remove the seeds.
Place peeled peppers in a colander for 15 minutes to drain excess fluid.
Put the cooked capsicum flesh, the olive oil and the salt into a food processor and blitz until completely smooth, then pour into a greased shallow baking dish.
Place this in the oven for 2 1/2 - 3 hours, stirring it well every 45 minutes or so and cook until reduced by about half.
Allow to cool a little, then put paste into a sterilised jar, cover the top with olive oil and refrigerate.