Preheat the oven to 350 degrees F (175 degrees C).
Heat olive oil in a skillet over medium heat. Brown pork chops on both sides, about 5 minutes.
Stir rice and celery together in a baking dish. Place onion slices on top of rice and top with browned pork chops.
Bring water to a full boil in a saucepan. Add bouillon, Italian seasoning, and salt; stir to dissolve and pour mixture over pork chops. Cover with aluminum foil.
Bake in the preheated oven until rice is cooked and pork chops are fork-tender, 60 to 70 minutes. Remove aluminum foil and top with sliced bell peppers. Return to the hot oven and bake until peppers are tender, 10 to 15 minutes more.
