Abstract: A semi-submersible offshore platform comprising a hull having at least one oil storage tank and a fixed centralized support member. The hull has a peripheral edge. The platform further comprises a deck coupled to the support member and a plurality of stabilizer buoys. Each of the buoys is coupled to the hull and is positioned adjacent the peripheral edge of the hull, whereby the buoys pitch, roll, heave, sway, and surge relative to the hull. Also provided is a system for stabilizing a semi-submersible offshore platform having a submersible hull. The system comprises a buoyant stabilizer and a constant tension device attached to the platform and coupled to the buoyant stabilizer, relative to the submersible hull.