In a medium saucepan, sauté sofrito in oil 2-3 minutes over medium heat.Add tomato sauce, beans, water, sazón and ham packet. Season with pepper, adobo, garlic powder, oregano and stir. Taste and adjust spices according to your liking. Broth should be slightly salty since the potatoes will absorb much of the flavor.Add potatoes and olives and bring to a boil. Reduce heat to low and simmer until potatoes are cooked through, about 30 minutes or so, depending on their size. Serve over hot rice.