Defence contractor BAE Systems said talks with Saudi Arabia over changes to its order for 72 Eurofighter Typhoon jets would continue into 2012 and possibly impact its 2011 earnings.

The achievement of the group's previous guidance for 2011, of underlying earnings per share broadly similar to that for 2010, included some dependency on the conclusion of the Salam (Eurofighter acquisition programme) negotiations, BAE said in a statement on Wednesday.

Europe's biggest arms maker said talks continued over proposed changes to the final assembly of the last 48 of the 72 Typhoon aircraft, the creation of a maintenance facility in Saudi Arabia, the addition of new capability to some aircraft and the formalisation of price changes.

Good progress on these discussions has been made in recent weeks with budgets approved in the Kingdom in December on all items other than the price escalation where negotiations will now continue into 2012, BAE said.

Earlier this week the British group said it had sold three Offshore Patrol Vessels (OPV) to the Brazilian Navy for 133 million pounds ($207.95 million). The vessels were those due to be sold to the government of Trinidad and Tobago - a deal which was cancelled by Trinidad and Tobago last year.

BAE said following the Brazil deal, the carrying value of the OPVs had increased.

The uplift in carrying value of the OPVs is expected to largely mitigate the earnings per share impact of the deferred Salam trading in the group's 2011 results, BAE said.

It added that this would exclude the benefit to underlying earnings per share of approximately 5.9 pence arising from a UK research and development tax credit agreement.

Shares in BAE, which have fallen 11 percent in the last year, were 1.7 percent down at 289.95 pence by 1605 GMT, valuing the group at around 9.5 billion pounds.

(Reporting by Rhys Jones; editing by Neil Maidment)