* Shell holds 36.8 pct stake in offshore consortium
* Sale of stake would mark Shell's exit from Denmark (Adds DUC production figures)
By Ron Bousso and Clara Denina
LONDON, Feb 6 (Reuters) - Royal Dutch Shell isseeking to sell its stake in the Danish Underground Consortium(DUC), an offshore oil and gas joint venture, in what would markthe company's effective exit from Denmark, three banking sourcessaid.
The stake is valued at up to $1 billion, according to twosources.
Bank of America Merrill Lynch (BAML) is running the saleprocess, the sources said.
Shell owns a 36.8 percent stake in DUC alongside operatorA.P. Moller-Maersk, which has 31.2 percent, Chevron which holds 12 percent, and Danish state-runNordsøfonden which has a 20 percent stake.
Shell declined to comment. BAML was not available forimmediate comment.
The consortium, which started production in 1972, currentlyoperates 16 fields, In 2014 it produced 51 million barrels ofoil, roughly 140,000 barrels per day, and 4 billion cubic metresof gas, according to Maersk's website.
Shell said last week it was close to selling assetstotalling $5 billion to cut debt following its $54 billionacquisition of BG 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 fiveto 10 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 Susan Thomas)
