Preheat oven to 400°F. Place the sausage links in a baking dish and poke a few holes into each link. Roast until mostly cooked through (about 20 minutes) then remove from the oven.
Dry off the sausage links to remove any moisture. Heat a stainless steel pan to medium to medium-low and once hot add 2 tablespoons of olive oil. Add the sausage and cook until the links are well browned on all sides (about 10-15 minutes total).
Remove the sausage from pan and set aside tented with foil to keep warm. Add the remaining olive oil and peppers and onions to the pan. Cook for a few minutes coating well with the olive oil and sausage drippings. Add the water to the pan and cover.
Remove the lid after about 10 minutes. Season with salt, pepper, and oregano. Continue cooking to evaporate any excess water. When the water evaporates and the peppers and onions are soft, add in the sausage links.
Cook for a few more minutes and taste test. Make any final adjustments to salt, pepper, oregano, and olive oil if required. Serve the sausage and peppers with Italian bread or on top of a hero/sub roll. Enjoy!