Combine immediately with the hot pancetta and the oil, and then pour in the cream mixture. Sauté pancetta (or bacon if you don't have pancetta) until transparent.. Set aside. Meanwhile, cook the penne (according to package directions) in a large pot of salted boiling water and then drain thoroughly. Cook Stir to coat each pasta piece; the heat from the hot pasta … Add While sauce is cooking, bring water to a full rolling boil.