The history of Borets dates back to 1897 with the manufacture of steam and drive pumps.

In the 1930-s Borets supplied equipment to the biggest construction sites of that period.

In the 1950-60-s Borets designed a number of new oilfield equipment and developed its manufacture.

1995 witnessed the start of continuous production growth. At the same time serial equipment was updated and new oilfield equipment was developed to meet increased requirements of oil producers.

In 1996 Borets started the manufacture of dual-pad stages and introduced the new Ni-resist material for same stages. It enabled to considerably increase mean-time-between-failure of downhole equipment.

In 1998 Borets started serial production of gas separators and hydro-protectors and established service base in Nizhnevartovsk.

In 1999 production facilities for the manufacture of stages by powder metallurgy method were built in Kineshma.

In 2000 a serial manufacture of switchboards was started. Also, the company assembled mobile gas boosters required for workover of both oil and gas wells.

In 2001 submersible motor assembly line was launched as well as manufacture of motor lead extensions, dispersants, tandem gas separator-dispersant and mobile gas injection systems.

Since 2002 Borets has been offering complete ESP systems. Lemaz plant became part of the company.

In 2003 Centroforce service base provided service to 1600 wells.

In 2004 serial production of submersible telemetry was launched. Borets and Lemaz started the manufacture of products as per requirements of ISO 9001:2000.

In 2005 the first shroud was manufactured and tested within ESP system. Manufacture of standard and temperature cable was launched at Kurgan cable plant. Also, Borets-Muravlenko service base was reconstructed and commissioned.

In 2006 started manufacture of permanent magnet motors. Borets acquired Lysvaneftemash plant (located in Lysva) – manufacturer of submersible motors. Service bases Borets service-Nefteyugansk and OP SC Borets were established in Nefteuygansk and Neftekumsk/Krasnodar correspondingly. The service bases introduced international standards ISO 9001, ISO 14001, OHSAS 18001. ESP systems were supplied and served in Oman.

In 2007 Borets obtained ISO 14001 certificate of conformity of management quality.