First, wash and peel the carrots, and trim off the tops and bottoms.

Set a large nonstick pot on the stove over medium heat, and add in the olive oil and chopped onion. Add in the sugar, and cook, stirring occasionally, until onion is soft, translucent, and lightly golden.

Add in the carrots, season with salt and pepper, and cook, stirring occasionally, until they start to caramelize.

Lower heat to medium-low, add in the water, and cover. Cook the carrots, stirring occasionally, for 30 minutes, until soft and easily pierced with a fork.

Serve immediately!