Siem Offshore and WellCem have identified synergies between the companies, including synergies with Siem Offshore's subsidiary Siem WIS. Terje Sorensen, CEO of Siem Offshore, said: "The agreement in respect of WellCem has positioned the company for a further investment in technologies within the area of increased oil recovery and well services. Siem Offshore and its subsidiary Siem WIS shall work closely with WellCem for the marketing and distribution of products."