In September 1984, a monument to the pioneering oil workers was erected in Almetyevsk at the Oil Workers' Square, which has since become a symbol of the city. The initiative to create the monument belonged to the city party committee and the Tatneft production association, and it was timed to coincide with the extraction of the two-billionth ton of oil in Tatarstan. The project was developed by artist A. Beldyushkin, architect V. Klimov, and sculptor A. Ryabkin.

The monument depicts two oil workers, a drilling worker and his assistant, working at the wellhead. Due to the multinational nature of the republic, one of the workers is portrayed with Tatar features, while the other has Russian features.

Alongside the monument, a fountain project was developed, which later became part of the ensemble. Although the fountain operated for a short time, it was reconstructed a few years later. The monument was inaugurated on September 2, 1984, three years after the extraction of the two-billionth ton of oil in Tatarstan.

Today, the monument to the oil pioneers is an important part of the Oil Workers' Square. Festive discos, parades in honor of Victory Day, and other mass events take place here.