Based on thermodynamic considerations, we derive a set of equations relating the seepage velocities of the fluid components in immiscible and incompressible two-phase flow in porous media. They necessitate the introduction of a new velocity function, the co-moving velocity. This velocity function is a characteristic of the porous medium. Together with a constitutive relation between the velocities and the driving forces, such as the pressure gradient, these equations form a closed set. We solve four versions of the capillary tube model analytically using this theory. We test the theory numerically on a network model.