* Shell holds 36.8 pct stake in offshore consortium
* Sale off stake would mark Shell's exit from Denmark (Add production, sales figures)
By Ron Bousso and Clara Denina
LONDON, Feb 6 (Reuters) - Royal Dutch Shell isseeking to sell its stake in Denmark's offshore oil and gasconsortium for around $1 billion in what would mark thecompany's effective exit from the coutnry, three banking sourcessaid.
Bank of America Merrill Lynch is running the sale process,according to the sources.
The Danish Underground Consortium (DUC) is a joint venturebetween operator A.P. Moller-Maersk, which has a31.2 percent, Shell, with a 36.8 percent stake, Chevron (12 percent) and Danish state-run Nordsøfonden (20 percent).
The consortium, which started production in 1972, currentlyoperates 16 oil and gas fields with an average production in2014 of around 140,000 barrel of oil per day and annual sales ofgas of around 4 billion cubic metres, according to Maersk'swebsite.
The asset is valued at up to $1 billion, according to twosources.
Shell declined to comment. BAML was not available forimmediate comment.
Shell said last week it is close to selling assets totalling$5 billion to cut debt following its $54 billion acquisition ofBG Group a year ago.
The Anglo-Dutch company has sold around $12.5 billion inassets since mid-2015 as it tries to reach its target of $30billion in disposals by 2018. It has said it plans to exit 5 to10 countries in the process.
Last September, Shell agreed an $80 million sale of itsremaining Danish downstream business, including its Fredericiarefinery, to Denmark's Dansk Olieselskab.
In March 2015, Shell agreed to sell its retail andcommercial fuel marketing operations in Denmark to Canada'sAlimentation Couche-Tard. (Editing by Jason Neely and xx)
