Fry the bacon in batches until lightly browned and beginning to crisp. Remove to paper towel-lined plate and set aside.
Fry the onion and garlic in another pot with a little olive oil on a medium heat until translucent.
Add the bacon to the onions and garlic. Add the rest of the ingredients and half a cup of water. Simmer for 1 hour, stirring regularly. Add water if needed.
Jam is done when you can’t tell the onions from the bacon. Cool for about 15-20 minutes and then place in a food processor. Pulse for 2-3 seconds so that you leave some texture to the “jam”. Refrigerate up to two weeks.