Put a medium pot on medium heat and when hot drizzle 3 tablespoons of oil. After a minute add the onion and sauté for 4 minutes until slightly coloured. Add the tomato paste, stir for a minute and add the tomatoes along with 1 tablespoon of the fresh thyme and 100 ml of the vegetable stock. Reduce the heat to low and cook for 15 minutes. Keep aside.
In the meantime, put 225 gr of the olives in a food processor along with 2 tablespoons of olive oil, 1 teaspoon of salt and blend to a paste. Keep aside.
Take a large saucepan and place on medium heat. When hot drizzle the remaining olive oil, 3 tablespoons, wait a minute, add the orzo and sauté for a further minute stirring continuously. Deglaze with the wine, let the alcohol evaporate, 2-3 minutes, and start adding 2 cups of the broth, simmer and stir. When almost all the broth has been absorbed add another 2 cups and continue the same procedure until the orzo is cooked to al-dente. Two minutes before that, add the tomatoes and continue cooking.
Add to the orzo 200 grs of the feta and the olive paste, season with the pepper to taste, stir and immediately remove from fire.
Serve and add on the remaining 75 gr of olives which you have roughly chopped, the remaining 50 gr of Feta and sprinkle with the remaining ½ teaspoon of thyme.